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France to give Rs. 12.3 billion loans for the Karachi Red Line project

Karachi: According to a recent news report, the French Government has announced to provide a soft loan of Rs. 12.3 billion for the Bus Rapid Transit (BRT) Red Line Project in Karachi. Ambassador of France in Pakistan Marc Barety and the country director of the French Agency for Development (AFD) signed a loan financing agreement with Secretary Economic Affairs Division Noor Ahmed in Islamabad to facilitate the credit.

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The red line is proposed to merge with the green line (currently under construction) at Numaish station for smooth and related operations, according to officials. From Numaish station to Merewether Tower, the red line services will continue on the shared common corridor.

Officials said the project’s soft loan of Rs12.3 billion reflects development agencies’ major efforts to boost people’s livelihoods.

The project entails the development of a 26.6-kilometer BRT corridor in Karachi, which comprises both the red line (24.2-kilometer) and popular corridor (2.4-kilometer) segments, as well as feeder and direct service routes to neighbouring communities.

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Beyond the 26.6-kilometer corridor infrastructure, the project is groundbreaking in many areas, including the option of bio-methane electric bus technology, which is fuelled by a dedicated waste methanisation facility, for climate change mitigation. The combination of this equipment and the vast transportation supply would help reduce CO2 pollution from the public transportation system.

For more details, visit our website Property News.


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