Peshawar: The government of Khyber Pakhtunkhwa has applied to the Asian Development Bank (ADB) for a $500 million loan to include DI Khan and Bannu in its urban development plan, extend BRT service to Khyber Road, and improve transportation in Swat and Abbottabad districts.

Read More: Government of KP will borrow Rs99 billion from the Asian Development Bank

Peshawar, Kohat, Abbottabad, Swat, and Mardan have already agreed to borrow $602 million from the Asian Development Bank for sanitary facilities. The KP administration has now chosen to include the higher tehsils of Swat and a few Hazara division cities, notably DI Khan and Bannu, in the same program, for which an additional $200 million will be borrowed from the Asian Development Bank.

Similarly, it has been planned to incorporate Warsak Road and other feeder routes in the Peshawar Bus Rapid Transit (BRT) project, for which a $100 million loan would be sought. Plans will also be prepared for sustainable urban mobility to provide transportation facilities in Abbottabad and Mingora, with a budget of $200 million.

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The provincial administration hopes to get a $100 million loan in 2023 to expand the Peshawar Bus Rapid Transit project, which will provide sustainable urban mobility in Mingora and Abbottabad, as well as development in Bannu, DI Khan, Bannu, Hazara Division cities, and upper Swat. The Asian Development Bank will approve the project’s loan by 2024, following which regular construction on the project would commence.

The credit offered by the Asian Development Bank for the project will exceed $810 million, which is more than Rs 127 billion in Pakistani rupees, after the requested loan for the urban development project is approved. The province government has produced a Rs99 billion PC-1 for the project, which will be approved by ECNEC in the next few days, while another PC-1 would be approved after additional loans are obtained.

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Similarly, the provincial administration of Peshawar has already secured $335 million in financing from the Asian Development Bank for the Peshawar BRT. The French Development Agency was also used to obtain the Euro loan. In September of this year, the provincial government hopes to secure an agreement on project-ready finance.

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