The Government of Pakistan and Asian Infrastructure Investment Bank (AIIB) on Wednesday signed an advance loan agreement worth $1.6 million for Lahore Water and Wastewater Management Project.The project holds high importance to Lahore city as it would ensure sustainable supply of safe water, reduce deteriorating environmental impacts due to untreated sewage disposal and deliver improved services to the general public, thus helping make it a financially strong entity.

Federal Minister for Economic Affairs Sardar Ayaz Sadiq attended the signing ceremony of Project Readiness Advance Loan Agreement for Lahore Water and Wastewater Management Project held at the Ministry of Economic Affairs, said a press statement issued here.Dr Kazim Niaz, Secretary for Economic Affairs Division signed the agreement on behalf of the government and Supee Teravaninthorn, Director General of Infrastructure Investment Department, Region 2, AIIB signed the agreement on behalf of the AIIB.

The Minister for Economic Affairs welcomed the AIIB delegation at the ministry and expressed gratitude for extending their continuous support to the Pakistani government in its efforts to achieve the country’s sustainable economic and social development. The preparatory activities of the project will comprise recruitment of two international PMCs to support the engineering and design activities for the infrastructure components of the project.

The PMCs will perform design reviews, finalize tender documents, help the implementation agency to undertake the tendering process, update the environmental and social assessments to take into account the planned land acquisition that will be completed after the independent valuation study has been carried out and verify that the necessary provision of occupational health and safety are incorporated, and assist the implementation agency to update the environmental and social management plans, during the technical designs’ review, for their inclusion in tender documents.

The preparatory activities will also support the incremental operating costs for hiring of relevant experts to support project implementation, office rental, transport and office expenditures.The Secretary for Economic Affairs Division hoped that the preparatory advance shall lead to early signing and implementation of the main project aimed at ensuring sustainable supply of safe water and improvement of existing sewerage system by providing new trunk sewers/conduits, thereby reducing environmental degradation.He thanked the AIIB team for extending their continuous support to the Government of Pakistan for achieving the National Development Goals.

Credit : Independent News Pakistan-WealthPk