French Agency for development (AFD) has signed credit facility agreement worth 130 million Euros (Rs 19.5 billion) for financing Peshawar sustainable bus rapid transit corridor (PSBRTC) project.
The agreement was signed between Secretary Economic affairs division (EAD) Noor Ahmed and The Ambassador of France for Pakistan Marc Barety and country director (AFD) Jacky Amprou.
The project will provide safe, efficient and well integrated mass transit system improving energy efficient and air quality through reduction of green house gas emissions.
Peshawar sustainable bus rapid transit corridor project will contribute to the government’s strategy in urban services and economic development.
Country director ,Agence Française de Développement (AFD) has said that the agency is working in Pakistan to deliver the technical and financial support to develop low- carbon infrastructures.
At present, AFD has committed 880 million Euros financial support while this project is opening new avenue of collaboration in Urban development sector.