A Loan Agreement of US$ 300 Million was signed with EXIM Bank of China on 18th June, 2009 with counterpart funding of US$ 53 Million by Government of Pakistan. Economic Coordination Committee (ECC) of the Cabinet decided to utilize loan equitably in three cities i.e. Muzaffarabad, Bagh and Rawalakot. Two Chinese companies M/s China Xinjiang Beixin Construction and Engineering Group (CXB) for Roads & Bridges and M/s China International Water & Electric Corporation (CWE) for Infrastructure Services were designated to undertake City Development Projects in Muzaffarabad, Bagh and Rawalakot AJK. The Contract is “Design & Build” so designing and construction is to be undertaken by the same company.
Total available funds were distributed in three cities i-e, Muzaffarabad 54%, Bagh 35%, Rawalakot 11%. Total 117 projects were launched and have been completed with exception 9 projects which are in the process of completion. Loan is utilized up to 99.47%.
Brig Zafar Hussain Wahla (Retd)
Project Coordinator (UD)
[Last updated 16 Jan 2017
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