The World Bank has allocated a loan of $406.6 million to Pakistan for the development of the Khyber Pass Economic Corridor (KPEC) Project.
As per reports, Minister for Economic Affairs Hammad Azhar supervised the signing ceremony of the KPEC at the division.
According to the Economic Affairs Division, the project will construct a 48 km long 4-Lane, dual high-speed carriageway from Peshawar to Torkham. This project will boost economic development and improve areas adjoining expressway falling in Khyber Pakhtunkhwa province.
The government is also planning to develop special economic zones around the corridor.
The Khyber Pass has long been one of the most important trade routes and strategic military locations. Settled in the mountains, Khyber Pass divides Pakistan and Afghanistan forming the bridge between Central and South Asia.
