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WB to invest $460m in Peshawar-Torkham road

WB to invest $460m in Peshawar-Torkham road

May 20, 2018 - 12:10

PESHAWAR (Pajhwok): The Worldinfo-icon Bank has decided to invest $460 million in building a new road from Peshawar to Torkham to boost trade between the two nations.

The Peshawar-Torkham Expressway Corridor will create job opportunities. The World Bank’s Board of Directors may approve the $460-million loan next month.

The total cost of the project is nearly $483 million and the remaining amount will be arranged by Pakistaninfo-icon, according to The Express Tribune.

A major component of the loan, $383.6 million, would be given for the construction of the road. Another amount of $72 million will be approved for the development of marble and horticulture sectors.

The four-lane road has been planned as the existing two-lane highway could not be modernised because of various constraints, the newspaper said.

Improvements in security, infrastructure investments and renewed regional economic cooperation have given new hope for the revival of cross-border trade.

The 50-kilometre Peshawar-Torkham project is part of the 281-km Peshawar-Kabulinfo-icon expressway -- seen as a gateway to Central Asia.

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