Peshawar, 12th August: Bus Rapid Transit Corridor Project in Peshawar is being carried out with the help of the Asian Development Bank (ADB).
According to reports of Baaghi TV, The Asian Development Bank is helping Pakistan provide safe, modern, and urban transport services in Peshawar.
The project will provide the city’s first bus rapid transit corridor with 31 stations. Facilities also include bicycle lanes, as well as safety features for women and children.
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BRT project will help improve air quality, reduce traffic congestion, and benefit an estimated 500,000 people.
The project administration manual (PAM) describes the essential administrative and management requirements to implement the project on time, within budget, and in accordance with the policies and procedures of the government and Asian Development Bank (ADB).
Pakistan receives $1 bn from ADB, World Bank
The executing agency, Khyber Pakhtunkhwa Urban Mobility Authority (KPUMA), and implementing agencies, Peshawar Development Authority and TransPeshawar The Urban Mobility Company (TransPeshawar), are wholly responsible for the implementation of the project, as agreed jointly between the borrower and ADB, and in accordance with the policies and procedures of the government and ADB.
The project will consist of two interlinked outputs: (i) construction of a 26 kilometer (km) BRT corridor, following international best practices and quality standards.
(ii) effective project management and sustainable BRT operations through institutional and organizational developments.
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The project is aligned with the following impacts: (i) safe, affordable, comfortable, and environment-friendly transport system in Peshawar achieved.
(ii) quality of life in Peshawar improved.
The total cost of the project is $587 million, inclusive of price and physical contingencies, taxes and duties, and finance charges.
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The government has requested a regular loan of $335 million from ADB’s OCR to help finance the project.
The loan will have a 25-year term, including a grace period of 5 years; an annual interest rate determined in accordance with ADB’s London interbank offered rate-based lending facility; a commitment charge of 0.15% per year (interest and other charges during construction to be capitalized in the loan); and such other terms and conditions set forth in the draft loan and project agreements.
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Based on the straight-line method, the average loan maturity is 15.97 years, and the maturity premium payable to ADB is 0.10% per year. ADB funds will be on-lent to the Government of Khyber Pakhtunkhwa (GoKPK), on standard lending terms, with the same loan repayment schedule and grace period.
The government has also requested two loans, of $75 million equivalent each, from the AFD and EIB to finance civil works and equipment costs jointly. The AFD and EIB have confirmed their interest in providing this co-financing for the project.
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ADB, the AFD, and the EIB will jointly finance relevant contract packages and expenditure categories on a cost-sharing basis. ADB procurement guidelines will apply along with universal procurement for all jointly financed packages. ADB will partially administer the AFD funds, while the EIB funds will not be administered.
The project will have the following outcome: the quality of public transport in Peshawar improved, benefiting half a population of half a million.
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