Business
ADB allows $320mn for rehabilitation of KP roads
Plan includes measures to incorporate climate-resilient design, increased road safety, and sustainable maintenance practices
Islamabad: The Asian Development Bank (ADB) approved a loan of $320 million for the rehabilitation of roads in Khyber Pakhtunkhwa province of Pakistan.
ADB's Resident Mission announced on Friday that the ‘Khyber Pakhtunkhwa Rural Road Development Project’ will upgrade about 900 km of rural roads in the province that have been affected by floods and are in poor condition.
It covers key routes that connect remote communities to education, health care and markets. The plan includes measures to incorporate climate-resilient design, increased road safety, and sustainable maintenance practices.
Asian Development Bank Director General for Central and West Asia Yevgeny Zhukov said that road transport is a lifeline for people and an important component of socio-economic development in Pakistan. This major infrastructure project will reduce travel time, and transportation costs and increase access to economic opportunities for millions of Khyber Pakhtunkhwa residents.
“By providing better access to markets and services, we are empowering local communities and driving inclusive economic growth in one of Pakistan's most underserved regions,” he said.
The project will provide technical and financial support to help the government develop long-term targeted interventions that will increase the sustainability of the province's road network.
ADB Senior Transport Specialist Seunghoon Kim said ADB will support the government to conduct a comprehensive study on the nature of flooding to identify priority roads, focusing on the risk of landslides across the province. We will assist the government in preparing concession agreements for the operation and maintenance of two tourist roads, which will contribute to the sustainability of the road network.
Noting that Pakistan is a founding member of the ADB, since 1966 the Bank has been working to promote inclusive economic growth in Pakistan and improve the country's infrastructure, energy and food security, transport networks, and social services. More than $52 billion has been committed to public and private sector loans, grants, and other forms of financing.