ADB to Finance $2B Pakistan Railway Upgrade, Replacing China Amid Delays
The Asian Development Bank (ADB) is set to take the lead in financing a major upgrade to Pakistan’s railway network, stepping in after delays in securing funding from China threatened a strategic mining project. According to reliable sources, the ADB is in advanced discussions to finance a $2 billion revamp of a 500-kilometer railway stretch from Karachi to Rohri, a project previously included under China’s $60 billion Belt and Road Initiative (BRI) investment plan.
The railway upgrade has become increasingly urgent as it is critical for transporting copper ore from the Reko Diq mine, currently being developed by Barrick Gold Corporation, a leading Canadian mining company.
China’s BRI had initially planned a comprehensive revamp of 1,800 kilometers of Pakistan’s railway network, but delays in project execution created a financing gap. The ADB is now stepping in to ensure the project moves forward.
While the ADB has not officially confirmed the exact financing details, the bank stated that it maintains “regular discussions with the Government of Pakistan on railway sector development” to enhance regional connectivity and trade.
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