AIIB looking to invest over $1bn in Pakistan.

ISLAMABAD -- The Asian Infrastructure Investment Bank (AIIB) on Thursday said it was considering to invest over $1 billion in Pakistan's critical infrastructure projects in the transport, urban and rural water and energy sectors.

This would expand AIIB's total portfolio in Pakistan to $1.462bn including two projects currently under implementation. It has so far approved up to a total of $7.5bn in investments in 13 countries for 35 projects.

'Our focus on Pakistan demonstrates that during times of macroeconomic uncertainty, multilateral development banks (MDBs) such as AIIB can help reinforce sound public infrastructure investment,' said Dr Jang Ping Thia, Principal Economist, at a news conference here.

Talking about the projects, Thia said the AIIB was currently processing investments in four key projects which included $100 million for the Karachi Bus Rapid Transit, $402m for RawalApindi Ring Road Project, $400m for Lahore Water and Wastewater ManaAgeAment Project and $160m for Karachi Water and Sewer Services Project.

AIIB's Head of Communications Laurel Ostfield said Pakistan was very important for the still new multilateral bank and in alignment with its strategic priorities of sustainable infrastructure, cross-border connectivity and mobilizing private capital, it had already approved $100m for the National Motorway M-4 (Faisalabad-Multan section) Project and $300m for Tarbela-5th Hydropower Extension Project of 1400MW.

'We are working to identify projects with high levels of readiness and that help address the needs associated with ageing water and transmission infrastructure,' she said, adding the 'focus will also remain on projects that can be carried out on a sound economic basis and contribute towards the country's long-term economic development.'

The inaugural Asian Infrastructure Finance report said there continued to be significant infrastructure investment opportunities across Asia, including Pakistan, despite...