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Home Latest News 49 million Dollar loan provided for Chakdara–Timergarah Road by EXIM Bank of...

49 million Dollar loan provided for Chakdara–Timergarah Road by EXIM Bank of Korea

Islamabad: In recent news, Pakistan and the EXIM Bank of Korea have signed an agreement on a loan of $49.045 million for the construction of the Chakdara–Timergarah Road (section-I)

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Economic Affairs Secretary Noor Ahmed signed the agreement on behalf of Pakistan, while the Korean side was represented by EXIM Bank Senior Executive Director Shin Deong-Yong.

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According to details, under the signed agreement, the National Highway Authority (NHA) will improve and widen the 38.85-kilometre Chakdara–Timergara section-I of N-45. The total cost of the project is $60.740 million, of which Korean EXIM Bank has committed to providing $49.045 million as a soft loan while the Government of Pakistan will arrange the remaining $11.695 million.

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