The Asian Development Bank (ADB) and Pakistan have signed an agreement 197 million loan to rebuild highways and bridges damaged by floods.
EAD Secretary Tariq Bajwa and Werner E. Liepach, Country Director for ADB in Pakistan signed the agreement, said a press release issued on Tuesday.
“Pakistan is vulnerable to natural hazards and climate changes. ADB has been assisting the country to improve its disaster management capacity. In addition to rehabilitation projects, also assisting Pakistan to establish the National Disaster Risk Management Fund (NDRMF) strengthening country’s institutional, financial and physical capacity to reduce the socioeconomic and fiscal impacts of natural disasters,” said Werner.
The project will rehabilitate 212 kilometres of highway sections and 33 bridges damaged by the 2010 floods restoring critical infrastructure and improving traffic management capacities for economic growth.
This will also help build institutional disaster management capacity of the National Highway Authority (NHA) by equipping the staff with necessary skills to respond pro-actively and effectively to meet challenges posed by recurring natural disasters.
The project is a continuation of ADB’s efforts to revive economic and livelihood opportunities of communities affected by natural disasters, as Pakistan’s transport sector contributes about 10% to the country’s gross domestic product, and the sector as a whole makes up about 10% of the economy and provides about 2.3 million jobs.
The development, which includes counterpart assistance of $21.9 million from the Government of Pakistan, is expected to be completed by September 2020.