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| June 13, 2008 | Friday | Jamadi-us-Sani 08, 1429 |
$7.5m ADB loan for Lahore mass transit
RAWALPINDI, June 12: The Asian Development Bank (ADB) has agreed to provide $7.5 million loan to Pakistan for technical assistance in the Lahore Rapid Mass Transit System (RMTS), it was officially learnt here on Thursday.
The loan will help the Punjab Planning and Development Board to prepare a structured design for the project aimed at improving the urban rapid mass transport network in Lahore.
The $7.5 million technical assistance includes a foreign exchange component of $6 million. The government sought the ADB assistance to develop a mass transit system for Lahore as part of the bank’s growing engagement in the country’s urban infrastructure and services sector.
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