AIIB to finance millions for infrastructural development in Pakistan

Asian Infrastructure Investment Bank will finance 511.81 million dollars for the infrastructural development in Pakistan.

Radio Pakistan reported that, while talking to APP, Chief Programming Officer and Senior Adviser to the President Asian Infrastructure Investment Bank Konstantin Limitovskiy said the amount has been approved for the projects including National Motorway M-4, Tarbela Hydropower Extension Projects, Karachi Water and Sewerage Project and  Karachi Bus rapid transit projects.

The Senior Adviser to AIIB President said two more propose projects are in the pipeline including Lahore Water and wastewater management project worth 400 million dollars and 402 million dollar Rawalpindi Rind Road project.

He said AIIB has a rapidly enhanced investment portfolio in Pakistan which is closely aligned with the country’s national development priorities.

Replying to a question, he said that AIIB is a multilateral development Bank having the mandate of faster economic development and providing transnational connectivity to the people for economic integration in the regional countries.