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$140m IDB loan to upgrade Pak railways
The Saudi Gazette Published in The Saudi Gazette on 24 - 02 - 2010

The Islamic Development Bank (IDB) will provide $140 million loan to Pakistan for renovation and upgradation of rail system in Pakistan.
An agreement between the government of Pakistan and the IDB was signed here on Tuesday.
The agreement authorizes the government of Pakistan to purchase equipment as an agent for and on behalf of the bank and the sale thereof to the government of Pakistan for use in the country's Railways Development Project. It is the pioneer project for the phased installations of modern signaling system on the entire main rail lines in Pakistan.
Umar Khan Ali Sherzai, Ambassador of Pakistan in Saudi Arabia, signed the agreement with Dr. Ahmad Ali, President IDB, according to a press release issued by the Pakistani consulate here.

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