ISLAMABAD : With the allocation of Rs. six billion China has started construction of 14 projects in Azad Jammu and Kashmir.These projects are part of four and half year reconstruction project with the allocation of US $ 300 in the shape of Preferential Buyers Credit Loan for reconstruction activities in Muzaffarabad, AJK.Talking to APP Brig Msuood Ahmed, Chief of Staff, Earthquake Reconstruction and Rehabilitation Authority (ERRA) here on Wednesday said that Chinese Preferential Buyers Credit Loan be used equitably for infrastructure development of three cities in AJK including Muzaffarabad, Bagh and Rawalakot.
He informed that for the project EXIM Bank of China would provide US$ 300 million (85%) whereas the Government of Pakistan has to provide counterpart funding of (15%) US $ 53 million.
Through this money he said 43 roads and bridges and 61 infra structure development projects would be started in Muzaffarabad with the allocation of $ 190 million whereas 30 roads and bridges and 36 infrastructure projects would be initiated in Bagh with the allocation of $ 124 million.
For the projects in Rawalakot an amount of $ 39 million has been earmarked for 15 constructing roads and bridges and five infrastructure development projects.
Through this money he said 43 roads and bridges and 61 infra structure development projects would be started in Muzaffarabad with the allocation of $ 190 million whereas 30 roads and bridges and 36 infrastructure projects would be initiated in Bagh with the allocation of $ 124 million.
For the projects in Rawalakot an amount of $ 39 million has been earmarked for 15 constructing roads and bridges and five infrastructure development projects.
