AIIB to provide $320m loan for N-5 highway reconstruction project

ISLAMABAD: Pakistan and the Asian Infrastructure Investment Bank (AIIB) on Tuesday signed a $320 million loan agreement for the reconstruction and improvement of critical sections of the N-5 highway — the country’s longest national highway from Karachi to Torkham near the Afghan border. The loan agreement was signed for “Reconstruction of National Highway N-5 under Pakistan’s Resilient Recovery, Rehabilitation and Reconstruction Framework Project,” amounting to $320.16 million. The project will...