Pakistan secures loans for the M4 Khanewal and Shorkot section

The China-based Asian Infrastructure Investment Bank and the Philippines-based Asian Development Bank will co-finance a 64km highway project between Khanewal and Shorkot towns in Punjab province of Pakistan. A report in Japan Today said that ADB had approved a €88.85 million loan for the project. AIIB will likely get board approval for its nearly €89 million this month. A grant for the project worth nearly €34 million is being extended by the UK’s Department of International Development. The Pakistan
June 16, 2016 Read time: 2 mins
The China-based Asian Infrastructure Investment Bank and the Philippines-based Asian Development Bank will co-finance a 64km highway project between Khanewal and Shorkot towns in Punjab province of Pakistan.

A report in Japan Today said that ADB had approved a €88.85 million loan for the project. AIIB will likely get board approval for its nearly €89 million this month. A grant for the project worth nearly €34 million is being extended by the UK’s Department of International Development.

The Pakistan government recently said it had launched formal talks with the two major Asian banks for co-financing the last section of the M4 motorway, Pakistani media reported.

An unnamed source with the government’s National Highway Authority (NHA), told the Express Tribune newspaper that cost would be around US$273 million.

Last November, the Tribune reported that Pakistani prime minister Nawaz Sharif had opened the Faisalabad-Multan section of the M-4, a 240km route.
Finance & Funding

Related Content

  • Poland's ambitious highway construction plans
    July 10, 2012
    The European football championships are among a number of things pushing Poland's ambitious highway building programme. Patrick Smith reports. Poland is planning to spend a colossal €4.57 billion on road projects in 2009, a 35% increase over the previous year. T
    Read More
  • Poland awards three Expressway S19 sections
    March 11, 2017
    The Polish General Directorate for National Roads and Motorways – GDDKiA –reports that 14 bids have been received for construction of three sections of the S19 dual carriageway. A consortium formed by Pizzarotti and Fundamental Infrastructure pitched the lowest bid for the Krasnik Poludnie - Janow Lubelski Polnoc section, amounting to nearly €80 million. The lowest offer for the construction of the second section – a ring-road around the town of Janow Lubelski – was just over €34 million and made by M
    Read More
  • China kick-starts Pakistan’s Gwadar East Bay Expressway
    September 2, 2015
    China is offering an interest-free US$130 million loan to Pakistan for construction of the Gwadar East Bay Expressway in the southwest port of Gwadar. The proposed 19km expressway will connect the Gwadar Port with the Mekran Coastal Highway, passing along the east bay of Gwadar City. The loan is part of a wider financing deal whereby China has a converted $225.5 million loan for the Gwadar International Airport into a loan. Work on the highway is expected to start in November for completion at the
    Read More
  • Senior ADB figure urges governments to act on sustainable transport
    September 27, 2013
    Multilateral development banks (MDB) are determined to do all they can to encourage governments of developing countries meet key sustainable transport targets, according to a senior figure at one of the world’s biggest MDB’s. Guy Woodford reports Tyrrell Duncan, Asian Development Bank’s (ADB) director of Transport and Communications Division, East Asia has been at the forefront of MDB efforts to enhance sustainable transport and road safety in developing countries. Speaking during a break in talks at the In
    Read More

Highlighted Content