{"id":104338,"date":"2025-12-29T14:10:53","date_gmt":"2025-12-29T09:10:53","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=104338"},"modified":"2025-12-29T14:10:57","modified_gmt":"2025-12-29T09:10:57","slug":"wb-asked-to-extend-karachi-mobility-project","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/wb-asked-to-extend-karachi-mobility-project.html","title":{"rendered":"WB asked to extend USD 438m Karachi Mobility project"},"content":{"rendered":"\n<p>Karachi:The government has requested a six-month extension from the World Bank for the Karachi Mobility Project (KMP), seeking to move the project\u2019s closing date from December 31, 2025, to June 30, 2026, to avoid disruptions in ongoing construction works, particularly on the Bus Rapid Transit (BRT) Yellow Corridor.<\/p>\n\n\n\n<p>The project, approved by the World Bank in June 2019, is financed through an International Bank for Reconstruction and Development (IBRD) loan of USD 382 million. It also includes USD 18.4 million in counterpart funding from the Sindh government and USD 37.5 million in private sector contributions, bringing the total project cost to USD 438 million.<\/p>\n\n\n\n<p>According to project documents, the requested extension is intended to allow sufficient time to complete key civil works and related infrastructure while authorities prepare an additional financing package estimated at USD 173.2 million. If approved, the additional financing could extend the project\u2019s overall duration to December 31, 2028. Officials said no changes are proposed to the project\u2019s scope, objectives, components, safeguards, procurement framework, or implementation arrangements.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/funds-for-khi-industrial-roads.html\" target=\"_blank\" rel=\"noreferrer noopener\">PKR 9.282bn approved for road repairs in Karachi industrial areas<\/a><\/p>\n\n\n\n<p>The World Bank noted that the project faced delays in its early stages due to staff turnover, limited political support, and disruptions caused by the COVID-19 pandemic. However, implementation has picked up pace, with both Project Development Objective progress and overall implementation performance currently rated \u201cModerately Satisfactory.\u201d<\/p>\n\n\n\n<p>Key developments include the completion and partial opening of the Jam Sadiq Bridge, ongoing construction of two BRT depots, and procurement processes underway for major corridor packages. An Accelerated Implementation Plan has been introduced to improve disbursement and strengthen oversight. To date, approximately USD 115 million \u2014 about 30 percent of the IBRD financing \u2014 has been disbursed.<\/p>\n\n\n\n<p>The World Bank management approved a formal exception under its Investment Project Financing Directive to allow the extension request, citing satisfactory borrower performance, the absence of outstanding audit issues, and a clear plan for project execution during the extended period.<\/p>\n\n\n\n<p>Environmental and social risks associated with the project continue to be rated \u201cSubstantial,\u201d reflecting the challenges of large-scale construction in Karachi\u2019s dense urban environment. Officials said mitigation measures, including compensation and livelihood restoration plans, a grievance redress mechanism, a Gender Action Plan, and climate resilience features such as elevated corridors and improved drainage, are being implemented as planned.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi:The government has requested a six-month extension from the World Bank for the Karachi Mobility Project (KMP), seeking to move the project\u2019s closing date from December 31, 2025, to June 30, 2026, to avoid disruptions in ongoing construction works, particularly on the Bus Rapid Transit (BRT) Yellow Corridor. The project, approved by the World Bank in June 2019, is financed through an International Bank for Reconstruction and Development (IBRD) loan of USD 382 million. It also includes USD 18.4 million in counterpart funding from the Sindh government and USD 37.5 million in private sector contributions, bringing the total project cost to USD 438 million. According to project documents, the requested extension is intended to allow sufficient time to complete key civil works and related infrastructure while authorities prepare an additional financing package estimated at USD 173.2 million. If approved, the additional financing could extend the project\u2019s overall duration to December 31, 2028. Officials said no changes are proposed to the project\u2019s scope, objectives, components, safeguards, procurement framework, or implementation arrangements. Read: PKR 9.282bn approved for road repairs in Karachi industrial areas The World Bank noted that the project faced delays in its early stages due to staff turnover, limited political&hellip;<\/p>\n","protected":false},"author":18,"featured_media":100657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[70179,69543,47122,45796,47959,52728,67355,1974,65419,4438,70178],"persona":[],"class_list":{"0":"post-104338","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-brt-project-extension","9":"tag-brt-yellow-line","10":"tag-infrastructure-development","11":"tag-karachi-development-projects","12":"tag-karachi-mobility-project","13":"tag-karachi-transport","14":"tag-public-transport-karachi","15":"tag-sindh-government","16":"tag-urban-mobility-pakistan","17":"tag-world-bank","18":"tag-world-bank-financing","19":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WB asked to extend Karachi Mobility project - Zameen News<\/title>\n<meta name=\"description\" content=\"The World Bank management approved a formal exception under its Investment Project Financing Directive to allow the extension request...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/wb-asked-to-extend-karachi-mobility-project.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WB asked to extend Karachi Mobility project - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The World Bank management approved a formal exception under its Investment Project Financing Directive to allow the extension request...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/wb-asked-to-extend-karachi-mobility-project.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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