Pakistan: Karachi Bus Rapid Transit Project (AIIB-000162)

Countries
  • Pakistan
Where the impacts of the investment may be experienced.
Specific Location
Karachi, Sindh
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 1, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Pakistan
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 582.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Aug 29, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the bank, "The objective is to provide an efficient and sustainable public transport system in Karachi by delivering the city's Red Line BLT corridor." The project has two components: 1.Construction of Karachi Red Line BRT Corridor and Associated Facilities; and 2. Establishment of BRT Operations

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Co-financing:
ADB US$ 390 million
Borrower US$ 92.5 million

Contact Information
Asian Infrastructure Investment Bank (AIIB):
Mr.Soon-Sik Lee
Project Team Leader/Senior
Investment Operations Specialist
Tel: +86 10 8358 0078
 
Asian Development Bank(ADB):
Mr.David Margonsztern
Principal Urban Development Specialist (Transport)
Tel: +632 632 5787
Borrower:
Mr.Aslam Chaudhary
Joint Secretary-China & AIIB Economic Affairs Division, Government of Pakistan
Tel: +92519205292
E-Mail: aslam26@gmail.com
 
Implementation Agency:
Mr.A. Rasheed Mughal
Project Director, Transport & Mass Transit Department, PIU
Tel: +92213586 5392

ACCOUNTABILITY MECHANISM OF AIIB

In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.