ADB to provide $359m for Karachi Transport Project, Sindh Secondary Education

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The Asian Development Bank (ADB) will provide 359million dollars including grant 11.8 million dollars for KarachiTransport Bus Project and 75 million dollars for Secondary Education in Sindh. Two agreements have been signed between Ministry of Economic Affairs and ADB in a ceremony Saturday. Secretary, Economic Affairs Division Noor Ahmed, and Country Director, Asian Development Bank Xiaohong Yang signed the financing agreements. Minister for Economic Affairs MakhdumKhusroBakhtyar also attended the signing ceremony According to agreements, ADB will provide 235 million dollars as loan while Green Climate Fund will provide 37.2 million dollars as loan and 11.8 million as grant for transport project. The Asian Development Bank will also provide 75 million dollars for Sindh Secondary Education Improvement Project and under this agreement, school infrastructure, institutional capacity building and reforms in the secondary education in the Province of Sindh will be strengthened. On the occasion, Minister for Economic Affairs MakhdumKhusroBakhtyar, appreciated and thanked the Asian Development Bank for their financial support towards improving urban transport, traffic management and access to secondary education in Pakistan. Country Director Xiaohong Yang stated that ADB is one of the leading development partners of Pakistan and is providing its support tovPakistan for policy reforms and project financing in the key priority areas. She said ADB financial support will strengthen Pakistan’s economy and reduce the risk of external economic shocks.