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ADB to provide $1bn for Karachi Circular Railway revival

Imran Ayub
May 13, 2026

KARACHI: After years of delays and failed revival attempts, the Karachi Circular Railway (KCR) project received a boost on Tuesday as the Asian Development Bank (ADB), giving a nod to the Sindh government’s request, assured it of $1 billion support in funding, raising hopes for revival of the long-delayed transport scheme.

A high-level ADB delegation met Sindh Chief Secretary Asif Hyder Shah and informed him that the bank was ready to finance the KCR revival with $1 billion, including an initial $10 million for preparatory work such as design review, operational planning, institutional arrangements and financing models.
 

ADB to provide $1bn for Karachi Circular Railway revival

Imran Ayub
May 13, 2026

KARACHI: After years of delays and failed revival attempts, the Karachi Circular Railway (KCR) project received a boost on Tuesday as the Asian Development Bank (ADB), giving a nod to the Sindh government’s request, assured it of $1 billion support in funding, raising hopes for revival of the long-delayed transport scheme.

A high-level ADB delegation met Sindh Chief Secretary Asif Hyder Shah and informed him that the bank was ready to finance the KCR revival with $1 billion, including an initial $10 million for preparatory work such as design review, operational planning, institutional arrangements and financing models.
Good of the ADB to provide a 1 billion loan, I am sure that 10 Million will go a long way in revitalizing KCR.
 
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ADB approves $700m loan for Pakistan insurance reforms​


Program will support development of capital markets, private pension products

Web Desk
June 18, 2026

a worker walks past inside the asian development bank adb headquarters in manila photo reuters file

A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila. Photo: Reuters

The Asian Development Bank (ADB) on Thursday approved a $700 million policy-based loan to support reforms aimed at strengthening insurance in Pakistan. The program seeks to expand insurance coverage and reduce protection gaps. It will also help stimulate private sector participation and support sustainable economic growth.

In a press release issued today, the Insurance Transformation Program will strengthen Pakistan’s financial resilience by deepening insurance markets and expanding financial protection for households, businesses, farmers, and public finances against extreme weather events, disasters, and life-cycle risks. The reforms are expected to reduce financial vulnerabilities, support faster recovery from shocks, and lessen pressure on public finances following disasters and other crises.
 

$390m Reko Diq bridge loan for ML-3

Khaleeq Kiani
June 29, 2026

• 996-km project will upgrade Rohri-Sibi-Quetta-Koh-i-Taftan rail line to support transportation from Reko Diq copper and gold project
• Officials say upgraded corridor will boost mineral exports, strengthen regional connectivity with Iran and Turkiye, improve access to Gwadar Port


ISLAMABAD: Owing to financial constraints, Pakistan Railways’ 996-kilometre Main Line-3 (ML-3) project covering the Rohri-Sibi-Quetta-Koh-i-Taftan section, estimated to cost about Rs280 billion, will be financed through a special $390 million (over Rs112bn) bridge loan from Reko Diq Mining Company (RDMC), repayable in a lump-sum (bullet) payment within two years.

The financing arrangement, its foreign exchange exposure, and the project’s security costs — estimated at around Rs46.38bn, or nearly 17 per cent of the total cost — have come under scrutiny by the Planning Commission. The commission has also raised concerns over inadequate planning for post-completion security.

The $892 million ML-3 upgrade is primarily intended to support transportation linked to the multi-billion-dollar Reko Diq copper and gold project. RDMC is a joint venture in which Canada’s Barrick Gold Corporation holds a 50pc stake, while the remaining 50pc is equally owned by the Balochistan government and three federal state-owned entities — OGDCL, PPL and GHPL.
 

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