AIIB Mulls Co-financing Punjab’s Highway Development Project
According to a report from Islamabad, the Asian Infrastructure Investment Bank (AIIB) is considering co-financing the highway development project of the Punjab government.
Prime Minister Imran Khan will inaugurate a Rs 2 billion honey project that will increase output by 90% within two years.
According to the information provided, the AIIB is considering giving a loan of USD 321 million to dualize 535 kilometers of southern Punjab provincial highways equipped with road safety, maintenance, and climate-resilient features.
Reportedly, the Punjab government highway project is anticipated to cost USD 817 million, with the Asian Development Bank (ADB) providing USD 407 million as the principal co-financier.
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It is emphasized that the motorways project will improve the east-west connection in southern Punjab and bring it on a level with the wealthier northern Punjab. It is anticipated that the dualization project will also improve farm-to-market connectivity and reduce traffic accidents by 30%.
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