Pakistan, World Bank sign loan accord worth $406 mn for KPEC project.

 
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ISLAMABAD -- Pakistan and World Bank has signed loan agreement worth over 406 million dollars for Khyber Pass Economic Corridor project.

Minister for Economic Affairs Muhammad Hammad Azhar, witnessed the signing ceremony held in Islamabad today.

The project aims to construct 48km long 4-Lane, dual carriageway high-speed access controlled motorway, from Peshawar to Torkham, Radio Pakistan reported.

The global integration of South and Central Asia is intertwined with the Khyber Pass and has served as the key node in trade for hundreds of years.

The expressway between Peshawar and Kabul through the Khyber Pass represents a section of Corridors 5 and 6 of the Central Asia Regional Economic Cooperation.

Corridor 5, which runs through Pakistan, has the potential to provide the shortest link between the landlocked countries of Afghanistan, Tajikistan, Uzbekistan and the Arabian Sea.

Corridor 6 provides access to Europe, Middle East and Russia. The KPEC will finance Peshawar-Torkham expressway portion of Corridor-5.

The...

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