Asian Development Bank warns $360 million loan for Pakistan highway project may lapse

dawn.com

The Asian Development Bank warns a $360 million loan for a highway project risks lapsing due to significant delays in project commencement and fund utilization. The loan, intended for the CAREC Corridor Development Investment Programme's Tranche III, has been stalled for eight months due to bidding process controversies, despite a court order to proceed. The project involves widening sections of the N55 Highway, with the ADB's deadline for fund utilization set for December 31, 2027, with no possibility of extension.


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Asian Development Bank warns $360 million loan for Pakistan highway project may lapse | News Minimalist