ISLAMABAD: The Asian Development Bank (ADB) will provide a loan of $196.9 million for Post-Flood Nat­ional Highways Rehab­ilit­ation Project, according to an agreement signed on Monday.

The project, whose total cost is estimated at $218.8m and that will take three years to complete, will help those areas in Khyber Pakhtunkhwa, Punjab and Sindh that were affected in the 2010 floods. Under the project, key infrastructure will also be built to sustain the livelihood of local residents and help them access markets.

Besides, the project will assist the National Highway Authority (NHA) to build its post-disaster traffic management capacity. The NHA will rehabilitate 212 kilometres of roads and 33 bridges of the national highways network.

The agreement was signed between Economic Affairs Division (EAD) Secretary Tariq Bajwa and ADB Country Director Werner E. Liepach.

Speaking on the occasion, Mr Bajwa expressed gratitude to the Asian lender for providing

vital support, and assured that the government would mobilise all-out efforts for improving infrastructure.

Efficient and rapid highways provide economic benefits and have multiplier effect, such as better accessibility to markets, employment and additional investments, he said.

This is even more so in a global economy where economic opportunities have been increasingly related to the mobility of people, goods and information, he added.

Mr Liepach also assured that the ADB would continue supporting Pakistan’s efforts for investing in infrastructure.

Published in Dawn January 24th, 2017