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

  • India’s US$20.5 billion road building plans
    August 22, 2024
    India has plans for US$20.5 billion of road building works.
    Read More
  • Guatemala seeks US$920mn of international loans for fast motorways
    December 16, 2013
    Guatemala’s Ministry of Communications, Infrastructure and Housing is seeking international loans of US$920 million to transform three national road sections into fast motorways. The loans could be obtained at some stage in 2014. One negotiated with the Central American Bank for Economic Integration (CABEI), of $280 million for the widening of CA-2 Oriente motorway to a four-lane motorway, is reportedly at its final stage. The bank has given its approval already and it is only the Monetary Council that has
    Read More
  • Goldman Sachs buys into infrastructure business Essel Highways
    August 16, 2016
    A consortium of investors led by Goldman Sachs has agreed to invest US$220 million in Essel Highways, part of the Essel Group. This is the US private investment firm’s first foray into India’s road infrastructure market, according to India’s financial media reports. Essel Highways, a subsidiary of Essel Infraprojects, constructs, develops and operates national and state highways. Essel Highways, set up in 2007, boasts road assets valued at around $2 billion. It has a road development portfolio of 1
    Read More
  • A bridge of hope?
    July 18, 2012
    As Russia prepares for a major Asia Pacific conference in nearly four years' time, the economic climate is felt in other countries in the region. Patrick Smith reports AUS$1 billion-plus suspension bridge is to be built to link the city of Vladivostok in the far east of Russia and Russky Island. Russia's President Dmitry Medvedev has signed an instruction for construction of the 3,150m long bridge, which is intended to provide access to the 24th Asia Pacific Economic Cooperation (APEC) summit, to be held o
    Read More

Highlighted Content