The NHA has sent the revised PC-1, which is 29.96 billion rupees, It indicates an increased scope and additional infrastructure requirements for the project, estimated in the previous budget by adding more than 8 billion rupees.
Financial Support and Funding NHA
The NHA plans to secure grants and loans from sources other than international financial institutions such as the World Bank or Asian Development Bank and contributions made by countries that are members of CAREC itself to support this program. These funds are necessary if we want our projects to succeed. And be completed with all planned improvements and expansions properly financed.
Objectives of the CAREC Program NHA
This initiative aims to enhance regional connectivity among Central Asian countries through economic cooperation. Therefore, it seeks smooth trading within these nations by improving their transportation systems using better routes. The revised PC-1 reflects a comprehensive approach to achieving these objectives, focusing on infrastructure improvements that will benefit all participating countries.
Increase in Budget and Scope
The original PC-1 had a budget of 21.04 billion rupees. The significant increase to 29.96 billion rupees highlights the project’s expanded scope. This additional funding will address more extensive infrastructure needs and ensure the project meets its ambitious goals. The 8 billion rupee increase demonstrates the NHA’s commitment to delivering a robust and effective regional connectivity program.
Strategic Importance
The region’s economic development heavily relies on the CAREC Corridor. Improved infrastructure will improve trade routes and increase economic integration between Central Asian countries, promoting regional stability and prosperity. These strategic aims can only be achieved with the revised PC-1 because it shows that NHA is committed to this kind of development at a wider scale in the region.
