Central Asia Regional Economic Cooperation Corridor Development Investment Program (Tranche 3) (ADB-48404-005)

Countries
  • Pakistan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 7, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Pakistan - National Highway Authority
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 360.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Feb 24, 2024

Disclosed by Bank Dec 7, 2023

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

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, Tranche 3 is aligned with the following impact of the overall MFF: regional connectivity and trade in the CAREC corridors enhanced. Tranche 3 will have the following outcome consistent with the overall MFF outcome: efficiency of for road traffic along the CAREC corridors improved. An additional outcome indicator is added in the project to enhance the climate and disaster resilience of the project. Tranche 3 will have 2 outputs: (i) climate resilient sections along N55 constructed, and (ii) NHA capacity strengthened for climate and disaster risk management and planning.

Situated at the crossroads of Afghanistan, Central Asia, India, Iran, and the People's Republic of China, Pakistan is well placed as a strategic transit hub in the region. N55 is a part of CAREC Corridor 5, which links the ports of Karachi and Gwardar in southern Pakistan with national and international economic centers to the north and has been underutilized because of its poor condition and is considered a bottleneck for regional trade. Reliable and resilient transport connectivity and services are essential for the country's socioeconomic development and climate resilience. N55 being a crucial transport network, as running parallel to Indus River, has high risk of riverine and torrential flooding, was severely affected in 2010, 2014 and 2022 floods and requires investment in climate change resilience. The multi-hazard mapping has been prepared under the earlier ADB Flood Emergency Reconstruction and Resilience Project for Punjab's most vulnerable districts. Moving forward, climate resilience requirements adopted in this project will be incorporated into NHA's road sector planning, investment prioritization, engineering design, O&M;, and disaster management. In addition, the project Punjab Arterial Road Improvement Project together with Tranche 3, which are located in Punjab and KP, which already show high traffic volumes, would yield significant socioeconomic impacts for the province. Tranche 3 adopts a comprehensive approach to increase the capacity of N55 by addressing the underlying causes and gaps through interventions of improved climate and disaster resilient design/construction. This will enhance sustainability of the road network in the country and facilitate regional movement of goods and people, contributing to the country's economic recovery.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Ordinary capital resources


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Borrower

Ministry of Economic Affairs

Economic Affair Division

Islamabad

(02-51) 910-4016

ADB

6 ADB Avenue

Mandaluyong City

1550 Metro Manila

Philippines

(632) 8636-2444

(632) 8636-2424

 

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works