France to provide Rs 19.5 billion Soft Loan for BRT Project in Peshawar

ISLAMABAD, Pakistan: The French Agency for Development (AFD) on Tuesday signed a Credit Facility Agreement worth Rs 19.5 billion (130 Million Euros) with the government of Pakistan for financing Peshawar Sustainable Bus Rapid Transit (BRT) Corridor Project.

The agreement was signed on Tuesday in Islamabad by the Secretary of Economic Affairs Division (EAD) Noor Ahmed, the French Ambassador Jacky AMPROU and the Country Director of the AFD Marc Barety.

The BRT project will provide safe, efficient and well integrated mass transit system improving energy efficiency and air quality through reduction of Green House Gas emissions.

The project will contribute to the government of Pakistan’s strategy in urban services and economic development.

France through the French Agency for Development is working in Pakistan providing technical and financial support to development low-carbon infrastructure. Up to date, AFD has committed Euros 880 million in financial support while this project is opening news avenue of collaboration in urban development sector.

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