The project will be funded by the Asian Development Bank and the United Nations Green Climate Fund under the title ‘Bus Rapid Transit Red Line Project’.
Sindh Minister for Energy, Imtiaz Sheikh said ‘The Red Line is the world’s first transport project to receive funding from the UN Green Climate Fund”.
The Asian Development Bank approved a loan of $235 million to assist in the development of the bus transit system in July.
In a statement by the ADB explaining the initiative, they said “The Karachi Bus Rapid Transit Red Line Project will deliver a 26.6-kilometer corridor and associated facilities benefiting as many as 1.5 million people”.
The United Nations Green Climate Fund has given a loan of $37.2 million and an additional grant of $11.8 million to fund the project. This money will be used to finance biogas plants and will help cover the incremental cost of transition from diesel bus technology to compressed natural gas hybrid bus technology with the biomethane extracted from cattle waste.
The Sindh Minister for Transport, Owais Qadir Shah said that 29 stations would be build under the Red Line project and a single bus would carry around 125 passengers.
Furthermore, the federal government has extended it’s support to the Sindh government in the development of this project.
PM Imran Khan’s advisor for Climate Change, Malik Amin Aslam said “This is a real cause for celebration and a big gift for Karachi”.
He added “We are glad that the Government of Sindh has taken a lead on it”.
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