The Asian Infrastructure Investment Bank (AIIB) in expected to invest around $1B in various new and ongoing projects on Pakistan. AIIB representatives Laurel Ostfield and Chief Economist have revealed to the media that four projects under consideration are $100 million Karachi Bus Rapid Transit Project, $402 million Rawalpindi Ring Road Project, $400 million Lahore Water and Wastewater Management Project and $160 million for the Karachi Water and Sewer Services Project.
The representatives also said that AIIB’s Board of Directors has approved USD 100 million for the National Motorway M-4 Project and USD 300 million for Tarbela 5 Hydropower Extension Project. They are working to identify projects with high levels of readiness that have the potential to help address the needs associated with ageing water and transmission infrastructure.
The AIIB is a multilateral development bank with a mission to improve social and economic outcomes in Asia. Headquartered in Beijing, it began operations in January 2016 and has now grown to 93 approved members worldwide. The United Nations has addressed the launch of AIIB as having potential for “scaling up financing for sustainable development”.
Menu
