Islamabad: The French Agency for Development (AFD) has provided a soft loan of 65 million euros to Pakistan for the safe and environment-friendly public transport project in Karachi.
Pakistan’s Secretary of Economic Affairs Division Noor Ahmed, Ambassador of France Marc Barety and AFD’s country director Philippe Steinmetz signed the credit financing agreement worth 65 million euros this week. France will co-finance the Karachi Bus Rapid Transit (BRT) system with Asian Development Bank (ADB), Asian Infrastructure Investment bank (AIIB) and Green Climate Fund (GCF). The project “will be one of the very first collaborative operations for AIIB and GCF in Pakistan on urban development” according to the official statement.