Wednesday 22 January 2020
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business-standard - 1 month ago

Pak, WB sign agreement for financing Khyber Pass Economic Corridor project

Pakistan and the World Bank has signed a project agreement worth USD 406.6 million for financing the Khyber Pass Economic Corridor (KPEC) project with an aim to promote economic development. The signing ceremony was held on Friday at the Economic Affairs Division, Islamabad, The Express Tribune reported. The project is aimed at constructing a 48km four-lane, dual carriageway, high-speed and access-controlled motorway from Peshawar to Torkham border point with Afghanistan in a bid to promote economic development and ensure uplift of the areas adjoining the expressway and falling in Khyber-Pakhtunkhwa. The project envisages public-private partnership and private financing for developing clusters of economic activity, economic zones and expressways. The connecting transport infrastructure and economic zones would provide a strong foundation for the private business to invest in these zones. The global integration of South and Central Asia is intertwined with the Khyber Pass, which has ...

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