$71m loan approved for Karachi mass transport plan
(WorldNews Pakistan)

ISLAMABAD: The Asian Infrastr­ucture Investment Bank (AIIB) has approved a loan of $71.81 million for the Karachi Bus Rapid Transit Red Line project, which will provide an efficient and sustainable public transport system in the mega city. The AIIB - a new Chinese-sponsored multi-lateral financial institution that aims to support the building of infrastructure in the Asia-Pacific region - accorded the approval at a meeting of its executive board held at its headquarters in Beijing on Nov 11. The components and planned activities under the project are: a 24.2km red line main...