ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Friday signed three contracts for financing totalling $61.8 million (approximately Rs17 billion) to advance three development projects to the implementation stage, which include the $2 billion Karachi-Rohri section of the Main Line railway (ML-1).

An official statement said the two sides signed Project Readiness Financing (PRFs) papers for the Karachi-Rohri section of ML-1, Quetta Bus Rapid Transit and Balochistan Water Resources Development Sector – Additional financing.

Under these commitments, ADB would provide $10m to prepare project documentation for the $2bn ML-1 section, $3.8m for the $125m Quetta BRT, and $48m for Balochistan Water Resources Development.

At the signing ceremony, Secretary of Economic Affairs Humair Karim welcomed ADB’s support for these critical projects, which are aimed at significantly contributing to Pakistan’s........

© Dawn Business