Pakistan, World Bank ink Khyber Pass economic agreement worth $406 mn

Pakistan and the World Bank has signed a project agreement worth $406.6 million for financing the Khyber Pass Economic Corridor (KPEC) project with an aim to promote economic development.
 
The signing ceremony was held on Friday at the Economic Affairs Division, Islamabad, The Express Tribune reported.
 
The project is aimed at constructing a 48km four-lane, dual carriageway, high-speed and access-controlled motorway from Peshawar to Torkham border point with Afghanistan in a bid to promote economic development and ensure uplift of the areas adjoining the expressway and falling in Khyber-Pakhtunkhwa.
 
The project envisages public-private partnership and private financing