Islamabad, Pakistan: Exim Bank of China has ensured Pakistani province of Punjab to release finances for 27.1 kilometer-long Orange Line Metro Train project. This project is first ever mass transit train in South Asian neighbor of China—Pakistan.
Talking to Dispatch News Desk (DND) news agency, sources said that the Exim Bank of China has given its consent to release Rs162 billion loan to the Punjab government as part of the country’s first mass rapid transit train system that will accommodate 30,000 passengers per hour.
On December 21 last year, the federal government and Exim Bank of China signed an agreement under which the bank agreed to provide Rs162 billion as soft loan for the metro train.
It was feared that the project might face hurdles in the receiving of the loan by the Exim Bank; however, the Punjab government succeeded to convince the financial institution to act upon at per agreement reached in December 2015.