Karachi: The Sindh government has listed eight external financing scenarios for the Karachi Bus Rapid Transit (BRT) Red Line Project, a news source reported. It is one of the five metro bus projects approved for the city.
The following financial institutions will provide funds worth USD 490 million for this project:
- Asian Development Bank (ADB)
- Asian Infrastructure Investment Bank (AIIB)
- Agency France for Development (AFD)
- Green Climate Fund (GCF)
The proposed scenarios lay out different divisions of the total amount of the funds among these four financial institutions. Meanwhile, the provincial government will invest USD 80.3 million towards the total cost of the project. This amount has been mentioned in the revised PC-1. The original PC-1 indicated that the Sindh government will put in USD 93.08 million.
Read: BRT buses reach Peshawar
As per reports, the Karachi BRT Red Line Project will be a sustainable urban bus project in the city. It will reduce travel times while enhancing passengers’ mobility and accessibility. The BRT Red Line will begin from Numaish and end at Malir Halt.