The Asian Development Bank (ADB) has approved a loan of $235 million to help in developing Karachi Bus Rapid Transit Red Line project. According to a press release by the ADB, the Karachi BRT Red Line Project will deliver the 26.6 kilometres BRT Line Red Line and its associated facilities. This will benefit as many as 1.5 million people, about 10% of Karachi’s population, the statement added.
As per details, ADB will partially administer two $100 million loans from the Asian Infrastructure Investment Bank and the Agence Française de Development to jointly finance the project’s civil works and equipment costs, the statement said. ADB will also administer a $37.2 million loan and an $11.8 million grant from the Green Climate Fund (GCF).
“There is a need for a more sustainable, reliable, safe, and gender and environment-friendly transportation system in a city as dense and rapidly growing as Karachi. A sustainable transportation system will not only solve the city’s mobility issue but also its growing pollution problem,” ADB Principal Urban Development Specialist (Transport) for Central and West Asia David Margonsztern said. “The BRT system, with its innovative features, will address all these issues, improving the overall quality of lives of people in the city.”
Furthermore, the project will also establish sustainable BRT operations in Karachi by improving the capacity of relevant transport authorities; designing the BRT business model and subsidy-free operations; implementing a bus industry transition program, including a fleet scrapping program and compensation mechanism; developing an effective public communications campaign; and delivering the BRT fleet, feeder e-vehicles, intelligent transport system, and a bio-gas plant.
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17 November, 2019