12:33 - 1.04.2025

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April 1, Fineko/abc.az. Azerbaijan is ready to give a $1 bn loan to Pakistan to finance construction of $1.2 bn worth highway project Sukkur-Hyderabad (M-6).

ABC.AZ informs, referring to the Pakistani media, that during a recent visit to Azerbaijan, Pakistani PM Shahbaz Sharif requested financing for the construction of two highways for totally $1.8 bn. Speech is about Sukkur-Hyderabad highway and new highway Hyderabad-Karachi (M-9), the cost of which is estimated at $600 million.

"Azerbaijan suggested to place an urgent deposit in the State Bank of Pakistan or cooperate with the Islamic Development Bank (IDB) for direct financing of construction," the media says.

Pakistani Deputy PM Ishaq Dar instructed to finalize development of investment proposals for infrastructure, energy, trade and IT services by April 3.

Hyderabad-Karachi highway (M-9) is designed to reduce travel time and improve economic connectivity between the two cities.

Sukkur-Hyderabad highway is to be built as part of public-private partnership. The IDB is considering the possibility of financing two sites, while Azerbaijan has expressed interest in financing the remaining three. If the project is implemented using this model, the highway can be built in two and a half years.