ISLAMABAD: The Asian Infra­structure Investment Bank (AIIB) will provide $210.12 million in fin­ancing to Pakistan to reconstruct National Highway N-5 under the Resilient Recovery, Rehabili­tation and Reconstruction Framework. The N-5 project represents the AIIB’s first standalone project in the transport sector of Pakistan, the Beijing-based multilateral lender says. The project aims to enhance climate resilience, operational efficiency, and road safety by reconstructing and upgrading critical four-lane segments into a climate-resilient six-lane dual carriageway. The AIIB is evaluating the project and is expected to approve the loan by May. The first phase will cost $247.75m, with the government providing $37.63m, whereas the total cost of the Multi-Phase Programme (MPP) is $587.98m, with an AIIB loan totalling $500m. The federal government will contribute a total of $87.98m. The N-5 is the longest national highway, starting from Karachi and extending through Hyderabad, Moro and Sukkur in Sindh before crossing into Punjab, where it passes through Multan, Sahiwal, Lahore, Gujranwala, Gujrat, Lalamusa, Kharian, Jhelum and Rawalpindi. Release of $210m is expected in May; multi-phase road project to cost $588m At Rawalpindi, it turns westwards and passes through Attock Khurd before crossing the Indus River into Khyber Pakhtunkhwa to continue through Nowshera and Peshawar before entering the Khyber Pass and reaching the border town of Torkham. AIIB financing encompasses the reconstruction of four sections of N-5, totalling 213kms across Islamabad Capital Territory, Pun­jab, Khyber-Pakhtunkhwa and Sindh, and the reconstruction of two one-kilometer-long bridges in Sindh. The MPP aligns with the first phase of the National Highway Authority’s 20-year, four-phase plan to rebuild and expand this critical national infrastructure. The first tier of the phase-1 project will focus on two key sections of N-5, covering a total of 75km: Rawalpindi to Burhan (44km) and Nowshera to Peshawar (31km), alongside the reconstruction of the Nai Baran Bridge located southwest of Hyderabad. The second tier of the project will focus on two sections of N-5, covering a total of 138km: Lahore to Gujranwala (68km) and Ranipur to Rohri (70km), alongside the reconstruction of the Indus River Bridge at Hyderabad. The first tier of phase-1 of the project consists of three components: civil works to reconstruct two sections of N-5 (Rawalpindi-Burhan and Nowshera-Peshawar) and the Nai Baran Bridge; design review and construction supervisor consultant; and baseline costs such as resettlement of informal users, environmental and social management and government fees and permits. The AIIB has mobilised a $2m project preparation special fund grant to strengthen the preparation of the project.