Islamabad: According to a report published on October 19, the Asian Infrastructure Investment Bank (AIIB) is considering co-financing the Punjab government’s highway expansion project.
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According to the information provided, the AIIB is considering extending a USD 321 million loan to dualize 535 kilometres of provincial highways in southern Punjab with road safety, maintenance, and climate-resilient characteristics. According to reports, the Punjab government highway project will cost USD 817 million, with the Asian Development Bank (ADB) providing USD 407 million in funding as the primary co-financier.
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The roadways project will improve east-west connection in southern Punjab, bringing it up to level with the relatively rich northern Punjab, according to the report. The aforementioned dualisation project is also intended to increase farm-to-market connectivity and reduce traffic accidents by 30%.
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