Punjab government has decided to take loan from World Bank for electric public transport, reported 24NewsHD TV channel on Sunday.
In this regard, the World Bank will provide a soft loan of $300 million to the Punjab government.
According to report, matters were settled between the Punjab Government and the World Bank.
The government will be obliged to repay the World Bank loan in 25 years with two percent interest rate and there will be a five year grace period for the loan.
The World Bank will also provide consultancy for electric public transport.
The World Bank will provide guidelines on the production and disposal of lithium batteries as well.
Reporter: Rao Dilshad Hussain