Summary ADB, UK Department for Int'l Development to provide USD 327 million for CPEC, agreement signed
ISLAMABAD: (Dunya News) – Pakistan and Asian Development Bank (ADB) on Tuesday signed a deal of cooperation in the construction of China-Pakistan Economic Corridor (CPEC). ADB and United Kingdom (UK) Department for International Development (DFID) will provide USD 327 million for the project, reported Dunya News.
The signing ceremony of the agreement was held at the Finance Ministry today which was attended by Finance Minister Ishaq Dar, Director General ADB and DFID’s representative in Pakistan Richard Montgomery.
According to the agreement, ADB and DFID will provide the funds for the construction on 59 kilometer long Express Way from Hasan Abdal to Havelian and it will then be linked to Peshawar-Islamabad Motorway. The road will be extended from Havelian to Mansehra with the USD 121.6 million provided by the DFID.
The agreement was signed by Country Director ADB Werner Liepach, Secretary Economic Affairs Division Saleem Sethi and Chairman National Highway Authority Shahid Ashraf Tararr.
