AIIB Promises $112m for Improvement of Water, Transport Services in Karachi

Karachi: According to the news sources, the Asian Infrastructure Investment Bank (AIIB) has promised to improve the city’s water and transport services for which $112 have been invested. Following the investment, the people of Karachi will now have greater access to improved transport and water services.

AIIB’s President Jun Liqun approved a loan of $71.81 million for a project that will provide an efficient and sustainable public transport system in Pakistan’s economic hub. As part of this project is the Karachi Bus Rapid Transit (BRT) in which the construction of BRT Corridor and associated facilities will also be established. An estimated 1.5 million people living within a one-kilometer radius from the BRT corridor and off-corridor services will directly benefit once the project is completed.

The air quality of the city will also improve and the greenhouse gas emissions will reduce as the passengers switch from private cars and motorcycles to this new BRT system.