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Home Business

ADB approves $235m to upgrade Pakistan’s National Highway 55

by Web Desk
August 19, 2021
in Business, Finance
Reading Time: 1 min read
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The Asian Development Bank (ADB) has approved a $235 million loan to upgrade the National Highway 55, locally referred to as N55, in Pakistan that is crucial to regional connectivity and strengthen the government’s operation and maintenance of its national highway network, the Philippines-based lending agency said in a statement on Thursday.

The project will expand the 222-kilometer Shikarpur–Rajanpur section of the N55 from two lanes into a four-lane carriageway, it said. The N55 is part of the Central Asia Regional Economic Cooperation (CAREC) Corridor 5 which links the ports of Karachi and Gwardar in southern Pakistan with national and international economic centers to the north, it added.

“This project will increase the capacity of a busy highway section that passes through populous economic centers in Sindh and Punjab provinces,” ADB Transport Specialist Rika Idei said. “The project addresses key road safety, climate resilience, and gender-specific needs to ensure users can travel safely, smoothly, and comfortably. This will facilitate the regional movement of goods and people, and support Pakistan’s economic recovery from COVID-19.”

Tags: ADBCARECGwardarlatestPakistan’s National Highway 55

Web Desk

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