APP58-23 ISLAMABAD: January 23 - Secretary Economic Affairs Division (EAD), Tariq Bajwa signing a US$ 196.9 million agreement with Asian Development Bank for National Highways. APP

ISLAMABAD, JAN 23 (APP): Asian Development Bank (ADB) would provide loans US$ 196.9 million for Post-Flood National Highways Rehabilitation Project.
The agreement to this effect was signed here on Monday between Economic Affairs Division Secretary, Tariq Bajwa and ADB Country Director Werner E. Liepach.
The total estimated cost of this project is US$ 218.8 million, out of which the ADB would provide US$ 196.9 million.
The project would contribute to the economic recovery of flood-
affected areas in Khyber Pakhtunkhwa, Punjab, and Sindh provinces restoring critical physical infrastructure to sustain livelihoods and access to markets as well as build post-disaster traffic management capacity of the National Highway Auhority (NHA).
Under this project, the NHA would rehabilitate 212 KM roads and 33 bridges of the national highways network during next 3-years.
Speaking on this occasion, Tariq Bajwa expressed gratitude to the ADB for providing vital support for infrastructure building in Pakistan.
Bajwa assured commitment of the government measures to improve the physical infrastructure.
An efficient and rapid highways network provided economic benefits that result in multiplier effects such as better accessibility to markets, employment and additional investments, he added.
Werner E. Liepach assured of the ADB’s continued support and appreciated the government’s efforts for investing in infrastructure.