Islamabad: The Asian Infrastructure Investment Bank (AIIB), in collaboration with the Asian Development Bank (ADB), has announced its decision to fund three infrastructural development projects in five major cities of Khyber Pakhtunkhwa – a news source reported. To facilitate this measure, the agencies would provide a loan grant of USD 900 million.
The second project that’s been under consideration of the AIIB for a USD 400-million loan. These two projects are standalone and would be developed by AIIB funding alone. The five cities selected for infrastructural improvement projects in KP include Kohat, Mardan, Mangora and Abbottabad.
Meanwhile, the AIIB is expected to organise a ‘Pakistan Business Forum’ today (Thursday) in Islamabad. As per details, the bank’s management plans on holding consultations with federal and state authorities in the former’s bid to expand its network in Pakistan.
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