$ 71Mn loan approved for Karachi mass transport plan

The Asian Infrastructure Investment Bank (AIIB) has approved a loan of $ 71.81Mn for the Karachi Bus Rapid Transit Red Line project. The project will cost $ 503.33Mn, of which ADB will provide $ 235Mn, French Development Agency $ 71.81Mn, Green Climate Fund $ 37.20Mn with a grant of $ 11.80Mn, and Sindh govt. $ 75.71Mn.