Pakistan: Karachi Port Gets $115.8 Million from World Bank
The World Bank has agreed to lend $115.8m to the Karachi port improvement project in Pakistan.
The money will fund works to deepen the channel and harbour at the port, reconstruct old and shallow berths, and construct cross-harbour bridges.
The port, which handled 38.7 million tons of cargo in 2008-09, constitutes approximately 60% of Pakistan’s international trade by volume.
The loan will have a maturity period of 28 years, including a 7.5-year grace period, according to dailytimes.com.
Source: ship-technology, September 21, 2010;