Two Asian Banks To Give Rs29bn to Pakistan for M-4 Project

The Asian Development Bank (ADB) is planning to arrange co-financing for Rs29 billion Faisalabad-Khanewal Motorway (M-4) project by chipping in newly established Beijing-based Asian Infrastructure Investment Bank (AIIB) and Islamic financing sources. This is expected to be AIIB’s first financing to any development project when it starts operations as a gesture of goodwill to Pak-China friendly relations and support to China-Pakistan Economic Corridor (CPEC) Project.