$75 million loan-deal signed for KP road project
Last updated on: 28 February,2019 10:23 am
The deal will help dualise Mardan-Swabi road with the reconstruction of a 42km stretch.
(Web Desk) - The Economic Affairs Division and the Asian Development Bank have signed a loan agreement of $75 million to provide additional finance for Mardan-Swabi road improvement project.
Under the agreement, the additional financing will help dualise Mardan-Swabi road with the reconstruction of a 42km stretch.
The dualisation of Mardan-Swabi road and rehabilitation of provincial highways will complement and enhance economic mobility of the China-Pakistan Econo¬mic Corridor (CPEC) as well as Central Asia Regional Economic Cooperation Corridor.
The funding will also improve and complement the ongoing KP provincial roads improvement project aimed at rehabilitating 214 kilometers of provincial highway network to improve the performance of roads and achieve higher service value for Khyber Pakhtunkhwa (KP).
It will strengthen the institutional capacity of communication and works department of KP.
The new dual carriageway will bring many benefits to the Khyber Pakhtun¬khwa region,” The road will connect a thriving agricultural region with a busy industrial hub, and link the region to important tourist destinations such as Swat and Kalam through the Swat Expressway.