Pak signs loan agreement for Section-I of N-45 with EXIM Bank of Korea.

Islamabad -- Secretary, Economic Affairs Division Noor Ahmed has signed a Loan Agreement of US$ 49.045 Million for Section-I of Chakdara- Timargarah Road (N-45) with the EXIM Bank of Korea under the Economic Cooperation Development Fund (EDCF).

From Korean-side, Shin Deong-yong, Senior Executive Director of EXIM Bank signed the said Loan Agreement.

Under this financing agreement, National Highway Authority (NHA) will improve and widen 38.85 KM of Chakdara- Timargara Section-I (N-45).

The total cost of the project is US$ 60.740 million out of which Korean EXIM Bank has committed to provide US$ 49.045 Million as soft loan while the Government of Pakistan will provide US$ 11.695 Million.

The...