Azerbaijan is willing to give a $1 billion loan to Pakistan for funding the $1.2 billion Sukkur-Hyderabad motorway, but Pakistani government departments remain divided over the mode of financing.
Pakistani Prime Minister Shehbaz Sharif had sought funding for two motorway projects during his visit to Azerbaijan. These include the Sukkur-Hyderabad motorway and a new Hyderabad-Karachi motorway projected to cost at least $600 million, Pakistani media reported.
"Azerbaijan has proposed placing a term deposit with the State Bank of Pakistan or collaborating with the Islamic Development Bank to fund the motorway directly," Pro Pakistani reported.
The Sukkur-Hyderabad motorway is planned under a public-private partnership, with the IDB considering funding two sections, while Azerbaijan has expressed interest in financing the remaining three. The project could be completed in two and a half years.
