Azerbaijan will provide Pakistan with 1 billion dollars for highway construction

Azerbaijan is ready to provide Pakistan with a $1 billion loan to finance the construction of the Sukkur-Hyderabad (M-6) highway worth $1.2 billion.

This is reported by Pakistani media.

According to the publication, Pakistan's Prime Minister Shahbaz Sharif during his recent visit to Azerbaijan requested financing for two highway construction projects totaling $1.8 billion. These include the Sukkur-Hyderabad highway and the new Hyderabad-Karachi (M-9) highway, which is estimated to cost $600 million.

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

Pakistan's Deputy Prime Minister Ishaq Dar instructed to complete the development of investment proposals for infrastructure, energy, trade, and IT services by April 3.

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

The Sukkur-Hyderabad highway is planned to be built under a public-private partnership. The IDB is considering financing two sections, while Azerbaijan has expressed interest in financing the remaining three. If the project is implemented according to this model, the highway could be built in two and a half years.