Pakistan, AIIB sign $320 million loan deal for N-5 highway reconstruction

Pakistan and the Asian Infrastructure Investment Bank on Tuesday signed a loan agreement worth $320.16 million for the reconstruction of key sections of the National Highway (N-5) under the country’s resilient recovery framework. According to a press release issued by the Economic Affairs Division (EAD), the financing agreement relates to Phase-IA of the “Reconstruction of National Highway N-5 under Pakistan’s Resilient Recovery, Rehabilitation and Reconstruction Framework Project”. The project covers critical sections of the N-5 highway passing through Sindh, Punjab and Khyber Pakhtunkhwa, one of Pakistan’s main transport corridors linking major economic centres across the country.