Asian Development Bank or ADB approved the huge loan for Karachi BRT Red Line Project on Friday (today).
Karachi BRT Red Line Project will soon become a reality as ADB approved the $235 million loan. The Bus Rapid Transit project will offer the 26.6 km corridor and related facilities. However, it is believed that around 1.5 million people will get benefit from this project.
After the completion of Karachi Bus Rapid Transit Red Line Project, over 300,000 passengers each day are expected to travel. For the Karachi BRT Red Line Project, ADB will partially manage 2 $100 million loans from the Agence Française de Développement and Asian Infrastructure Investment Bank to finance the equipment costs and civil works of project. In addition, ADB will also manage an $11.8 million grant and a $37.2 million loan from GCF or Green Climate Fund.