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ADB TO PROVIDE US$150 MLN DEVELOPMENT OF ROADS IN BALOCHISTAN.
ISLAMABAD, Aug 1 Asia Pulse - The Asian Development Bank will give approximately US$150 million to the Balochistan Road Development Sector Project during 2003.
An initial technical assistance grant of US$0.5 million has already been approved. This technical assistance will support preparation of the Balochistan Road Development Sector Project.
The government will finance the remaining US$0.15 million for the technical assistance at a total cost US$0.7 million.
Earlier, a World Bank study said that Pakistan loses US$3.84 billion a year due to its poor transportation infrastructure. It said that the loss is equivalent to 6 per cent of the country's GDP.
A highway rehabilitation project of the World Bank is also in the pipeline, which will now be taken up in the ongoing fiscal year for approval.
This Highway Rehabilitation project has a volume of US$150 million. It will also assist the provincial government to carry out an in-depth review of the existing institutional capacity and road sector policies and regulations, to ...
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Source: HighBeam Research, ADB TO PROVIDE US$150 MLN DEVELOPMENT OF ROADS IN BALOCHISTAN.