AIIB to invest over $1bn in Pakistan’s infrastructure

ISLAMABAD: The Asian Infrastructure Investment Bank (AIIB) has decided to invest more than $1 billion in the infrastructure projects related to transport, urban and rural water, and energy sectors of Pakistan.

AIIB Head of Communication & Development and Chief Economist Laurel Ostfield, in an interaction with media on Thursday, said that the bank was giving funds for sustainable infrastructure and cross-border connectivity, and to mobilise private capital projects in Pakistan. “In line with our priorities, AIIB is considering investing more than $1 billion in infrastructure, urban and rural water, and energy sectors,” she added.

She informed that four projects under consideration included the $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.

Ostfield said AIIB’s Board of Directors has also approved $100 million for the National Motorway M-4 Project and $300 million Tarbela 5 Hydropower Extension Project.