The Economic Affairs Division (EAD) and the Asian Infrastructure Investment Bank (AIIB) signed the Loan Agreement for Phase-IA of the “Reconstruction of National Highway N-5 under Pakistan’s Resilient Recovery, Rehabilitation and Reconstruction Framework Project” amounting to USD 320.16 million. The project will cover critical sections of the National Highway (N-5), which traverses Sindh, Punjab, and Khyber Pakhtunkhwa, serving as a backbone of Pakistan’s transport network.
The Loan Agreement was signed between Mr. Muhammad Humair Karim Kidwai, Secretary Economic Affairs Division, and Mr. Konstantin Limitovskiy, Chief Investment Officer, Public Sector & Project and Corporate Finance (Global) Clients, AIIB, in the presence of Federal Minister for Economic Affairs, Mr. Ahad Khan Cheema. A separate Project Agreement was also signed between AIIB and the National Highway Authority (NHA). Additional Secretary, Ministry of Communications, and C.E.O of National Highway Authority were also present. Federal Minister for Economic Affairs Division, Ahad Cheema appreciated the longstanding partnership with the Asian Infrastructure Investment Bank, stating that the Bank has consistently proven to be a reliable development partner of Pakistan. He said that the N-5 project would not only strengthen the country’s resilient infrastructure but would also play a significant role in enhancing regional connectivity, trade activities, and economic growth. The Secretary, EAD appreciated the longstanding partnership with the Asian Infrastructure Investment Bank, noting that AIIB has consistently proven to be a strong and reliable partner. He emphasized that the N-5 Road Project will further deepen this partnership, strengthen mutual trust and cooperation, while advancing Pakistan’s sustainable infrastructure network.