The Lahore Fort and its buffer zone will receive a 22 million euro soft loan from France for urban regeneration and preservation. To finance the “Heritage and Urban Regeneration of Lahore Fort and its Buffer Zone Project,” Mian Asad Hayaud Din, the Federal Secretary for Economic Affairs Division (EAD), Nicolas Galley, the French Republic’s Ambassador, and Philippe Steinmetz, the French Agency for Development’s (AFD) Country Director, signed a credit facility agreement worth 22 million euros. Kamran Lashari, the director-general of the Walled City of Lahore Authority (WCLA), also attended the signing ceremony and expressed his appreciation for the Economic Affairs Division’s efforts in providing the soft loan. On August 9, 2021, CDWP authorized the project’s PC-1, and on July 5, 2022, the Federal Cabinet approved the signing of the loan financing agreement with AFD.
The project will cost Rs. 4036.590 million (US$ 22.880 million), which includes an FEC of Rs. 3662.68 million (AFD share).
The project, which is a component of the Walled City Lahore Master Plan, intends to renovate or restore the Lahore Fort, a landmark of Mughal heritage and a symbol of Pakistan’s rich past, as well as to produce more revenue and jobs through the promotion of tourism. It will offer new tourist attractions and community services to enhance the visitor experience and support regional economic growth. The French Republic is working in Pakistan to provide technical and financial help for the development of low-carbon infrastructures through the French Agency for Development. This initiative heralds a new era of economic collaboration between the governments of Pakistan and France in the field of historical and cultural tourism, with AFD having contributed 611.86 million euros in financial support to date. The French ambassador to Pakistan, AFD, and the French government were thanked by the federal secretary for economic affairs for providing financial support to Pakistan.