ISLAMABAD: The Asian Infra­structure Investment Bank (AIIB) will provide $210.12 million in fin­ancing to Pakistan to reconstruct National Highway N-5 under the Resilient Recovery, Rehabili­tation and Reconstruction Framework.

The N-5 project represents the AIIB’s first standalone project in the transport sector of Pakistan, the Beijing-based multilateral lender says. The project aims to enhance climate resilience, operational efficiency, and road safety by reconstructing and upgrading critical four-lane segments into a climate-resilient six-lane dual carriageway.

The AIIB is evaluating the project and is expected to approve the loan by May. The first phase will cost $247.75m, with the government........

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