Explanation

The World Bank will provide Pakistan a loan of $406 million for the construction of Khyber Pass Economic Corridor, according to an agreement signed in Islamabad on Friday December 13, 2019. World Bank’s director for Pakistan Illango Patchamuthu signed the agreement with Pakistani officials in the presence of Minister for Economic Affairs Hammad Azhar. The government aims to construct 48-km-long high-speed carriageway from Peshawar to Torkham under the Khyber Pass Economic Corridor project. It is also planning to develop special economic zones around the corridor, according to officials.