The World Bank's Board of Executive Directors has approved four projects and committed $722 million to strengthen institutions, municipal services and infrastructure in Karachi as well as for Khyber Pakhtunkhwa tourism plans. According to the bank statement, the World Bank is committing $652 million through three projects to strengthen institutions, municipal services and infrastructure in Karachi.
The projects will focus on urban management, public transport, and safe water and sanitation to enhance Karachi's liveability and competitiveness. This builds on findings of the Karachi Transformative Strategy, which estimates infrastructure needs of $9-10 billion for the city. The three projects and the ongoing Karachi Neighbourhood Improvement Project will help reduce this resource gap and help the city to meet the needs of residents.
'Pakistan@100: Shaping the Future' outlines a pathway for Pakistan to become a prosperous country by 2047. Karachi is central to achieving this as the engine of economic growth, given its contribution to the national economy.
"We are committed to support the transformation of Karachi into a liveable and competitive mega city," said Illango Patchamuthu, World Bank country director for Pakistan. "Investments to improve institutions, services and infrastructure will further enhance the city's contribution to the country's economy and people's well-being."
The competitive and liveable City of Karachi project ($230 million) will improve urban management, service delivery and the business environment. It will help improve performance and service delivery by local councils through performance-based grants for urban management and infrastructure. The project will modernise the urban property tax system, incentivize private sector participation in service delivery, enhance ease of doing business, and improve solid waste management.
The Karachi Mobility Project ($382 million) will improve access to jobs, mobility and safety through a bus rapid transit system along the 21-km Yellow Corridor. A key focus area of the project is to provide safe and secure transport for women's mobility. The corridor starts at Dawood Chowrangi in the east, runs through the Korangi Industrial Area, and ends in Numaish at the city centre. It is one of five priority lines in the city's transport plan and will benefit commuters along Surjani Town and Korangi Industrial Area. The project will reduce travel time, road traffic fatalities, and reduce emissions.
The Karachi Water and Sewerage Services Improvement Project ($40 million) is part of larger and longer-term $1.6 billion programme. This first phase will support an ambitious reform programme aiming to improve the Karachi Water and Sewerage Board's efficiency and sustainability to provide clean drinking water and sanitation services to the citizens of Karachi. Two million people will benefit from better customer service, reduced water losses, and improvements in asset and revenue management. Water supply and sewage networks will also be rehabilitated through investments in at least three informal settlements (Katchi Abadis), pumping stations, and sewer maintenance trucks.
The International Bank for Reconstruction and Development is funding all three Karachi projects.
According to the Bank statement, the number of tourists to Khyber Pakhtunkhwa (KP) has rapidly increased in recent years. The federal and provincial governments have prioritised sustainable tourism as a driver of economic growth and job creation. The World Bank committed $70 million in concessional financing for the Khyber Pakhtunkhwa Integrated Tourism Development Project. This project will invest in infrastructure development, strengthen institutions with business-friendly regulations and enhance technology use.
"Khyber Pakhtunkhwa has vast natural endowments and heritage assets that make it attractive for enhancing sustainable tourism. This project will support the province to build the needed capability and finance investments to harness this potential," said Illango Patchamuthu.
Nearly half a million entrepreneurs and travellers will benefit from upgraded facilities at different tourist destinations. The project will introduce sustainable destination management through infrastructure, facilities and assets. Initial focus will cover Chitral, Galliyat, Kalam, and Naran. Environmental preservation will be a priority through waste recycling and management, including single-use plastics. Women and youth in the local communities will benefit through enhanced skills. International Development Association, the concessional financing arm of the World Bank, is financing the KP tourism project.
Comments
Comments are closed.