The Asian Development Bank (ADB) would provide $72.4 million to Pakistan for National Highway Development Project in Balochistan for modernising the communication services of the province. In this regard a grant agreement was signed here on Thursday between ADB and Economic Affairs Division (EAD). Secretary EAD, Tariq Bajwa and Country Director ADB, Dr Werner E Liepach inked the agreement on behalf of their respective organisation.
According the agreement, the grant would be provided by the Department of International Development of the United Kingdom (DIFD) and would be administered by the EAD. The DIFD grant would replace part of the ADB project loan of $195 million already signed with ADB during last financial year for highway network development project in Balochistan.
After the DIFD grant of $72.4 million, the loan amount would be reduced from $195 million to $122.60 million which would also save commitment charges for the Government of Pakistan. Speaking on the occasion, Secretary EAD thanked the valuable financial and technical support of the bank and DIFD for socio-economic uplift of the country and development of infrastructure projects.
He said ADB and DIFD were providing vital support to Pakistan particularly for efficiency gains from road traffic operation along National Transport Corridor. He said National Highway Network Development in Balochistan project would rehabilitate 08-km of the existing two-line national highway of Zhob-Muhhal Kot of N-50 and 120-km road of Qila Saifullah-Waghum of N-70.
Tariq Bajwa also assured Pakistan's commitment to mobilise all its resources and scaling up of activities for improving, and developing inter-provincial linkages to enhance local connectivity. Speaking on the occasion, Country Director ADB, Dr Werner Liepach assured ADB's supports for socio-economic development and prosperity of the country. He also appreciated the efforts of the government for taking measures to revamp the existing transport and trade infrastructure and improving the communication facilities in the country. He also appreciated the government for infrastructure development for improved connectivity to steer the processing of economic building and social development of Pakistan.
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