Pakistan Asks ADB For More Funding For $10 Billion ML-1 Project

Pakistan has requested additional funding from the Asian Development Bank (ADB) to support the $10 billion ML-1 railway project between Karachi and Peshawar, as well as other infrastructure initiatives. An ADB delegation, led by Vice President for South, Central and West Asia Yingming Yang, is currently in Islamabad to discuss Pakistan's development priorities under the new five-year Country Partnership Strategy for 2026 to 2030.

So far, Pakistan has secured $2 billion in ADB financing for the ML-1 project, with ongoing discussions on further financial support, including guarantees and private sector partnerships. The Economic Affairs Minister of Pakistan, Ahad Khan Cheema, emphasized the importance of expanding ADB's private sector operations in the country, while highlighting the ML-1 project as a national flagship initiative.

Brief written by urgent.news from ProPakistani's own syndicated text. Machine-written — may contain errors; check the original before relying on it.