France to Provide Rs 12.3Bn Soft Loan for Red Line in Karachi
Islamabad: The French government is offering a soft loan for the bus rapid transit (BRT) Red Line project in Karachi in the amount of Rs 12.3 billion (65 million euros).
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In order to facilitate the credit, the French ambassador to Pakistan, Marc Barety, and the country director of the French Agency for Development (AFD), Noor Ahmed, signed the credit financing agreement in Islamabad to co-finance with the Asian Development Bank, Asian Infrastructure Investment Bank, and Green Climate Fund.
For a seamless and integrated operation, it is suggested that the Red Line connect with the Green Line, which is currently being built, at the Numaish station. From the Numaish station to Merewether Tower, the Red Line services will then proceed through the shared common corridor.
Construction of a 26.6 km BRT corridor in Karachi, which includes both the Red Line corridor (24.2 km) and the common corridor section (2.4 km), as well as feeder and direct service routes to the adjacent neighborhoods, is part of the project.
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Also, as a requirement for their proper and complete commissioning, the project includes a support component for the transfer of the current bus sector with the integration of informal operators into the new system.
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