France to provide €130m as soft loan for Peshawar’s BRT

F.P. Report

ISLAMABAD: Pakistan and France Tuesday signed a Credit Facility Agreement worth Euros 130m for financing Peshawar Sustainable Bus Rapid Transit Corridor project.

The agreement was signed by Secretary of Economic Affairs Division (EAD), Noor Ahmed, Ambassador of France, Marc Baréty and Country Director French Agency for Development (AFD), Jacky AMPROU here.

The project would provide safe, efficient and well-integrated mass transit system, improving energy efficiency and air quality through reduction of Green House Gas emissions. It would contribute to the Pakistan government’s strategy in urban services and economic development, according to press statement issued here.

France through the French Agency for Development has been providing technical and financial support to develop low-carbon infrastructures.

AFD, so far, has committed Euros 880m financial support while this project is opening new avenue of collaboration in Urban development sector.