France To Provide ₨.12.3 Billion Loan For Red Line Project In Karachi
France is providing a soft loan of ₨. 12.3 billion (65 million euros) for the BRT (Bus Rapid Transit) Red Line project in Karachi.
To facilitate the credit, the Ambassador of France in Pakistan, Marc Barety, and the French Agency for Development (AFD) country director inked a credit financing agreement with the Secretary of Economic Affairs Division, Noor Ahmed, in the federal capital.
The project would be co-financed by the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and the Green Climate Fund.
The Red Line is suggested to connect with the Green Line, currently under construction, at the Numaish station for a flawless and connected operation.
The Red Line services will then resume on the shared common corridor from the Numaish station till Merewether Tower.
The soft loan of ₨. 12.3 billion for the project shows that the development agencies’ substantial financial effort is aimed at a higher impact on people’s livelihoods.
“It’ll be one of the very first collaborative operations for GCF and AIIB in Pakistan on urban development,” a French embassy press release stated.
The project includes the construction of a 26.6 km BRT corridor in Karachi encompassing both the Red Line corridor (24.2 km) and the common corridor segment (2.4 km) and feeder and direct services routes to the neighboring communities.
Beyond the 26.6 km corridor infrastructure, the project is innovational in many ways.
The selection is made for the bio-methane hybrid technology, powered by a dedicated waste methanisation plant on climate change mitigation.
This technology, incorporated with the massive transport supply, will limit CO2 emissions from the public transport system.
This urban development project’s holistic street approach is to include organization and facilities for all public spaces along the BRT corridor.
Meanwhile, its gender and social inclusion dimensions are via the adoption of good practices in accessibility and gender mainstreaming.
Besides, the project includes a support component for the transition of the existing bus sector to integrate informal operators into the new system, an essential prerequisite for their proper and full commissioning.
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