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.

(ship-technology)

[mappress]

Source: ship-technology, September 21, 2010;

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