French loan of 65 million Euros for Karachi BRT

French loan of 65 million Euros for Karachi BRT

IslamabadFrench Development Agency provides soft loan of فراہم 65 million to Pakistan for safe and environmentally friendly public transport project in Karachi

Pakistan’s Secretary for Economic Affairs Noor Ahmed, French Ambassador Mark Bareilly and AFD Country Director Philippe Steinmetz signed a مل 65 million credit financing agreement this week.

France will jointly finance the Karachi Bus Rapid Transit (BRT) system with the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB) and the Green Climate Fund (GCF). According to an official statement, the project will be “one of the first urban development operations in Pakistan to support AIIB and GCF.”

The 26.6km transport project will combine modern energy and climate-resilient features to increase access to quality public transport in Karachi, Pakistan’s commercial hub. The project agreement was earlier signed between the AFD, the Sindh Department of Transport, the Sindh Mass Transit Authority and Trans Karachi, the company responsible for operating the buses.

Through the AFD, France is providing technical and financial assistance to Pakistan in the areas of energy and urban development and has pledged 850 million euros in financial assistance since 2016.

Under the plan, Trans Karachi, set up by the Sindh Mass Transit Authority, will be responsible for the operation and management of the Karachi BRT system.

The Karachi Breeze Mass Transit System will introduce 200 eco-friendly buses that will be run on biometrics to reduce air and noise pollution.

The 26.6 km long transport project will directly benefit 1.5 million people. It aims to improve the quality of life and experience of about 20 million people in the city.

The project will improve the transport system in the densely populated city of Karachi, which is at the bottom of the global index report due to severe traffic congestion in transportation and other matters.

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