The Asian Development Bank has granted a final one-month extension for the $360m CAREC project, urging the NHA to complete contract awards within the new deadline or risk non-compliance.
The Asian Development Bank (ADB) has provided a final one-month extension for the disbursement of a $360 million loan tied to the Central Asia Regional Economic Corridor (CAREC) Tranche-III project, following significant delays attributed to the National Highway Authority (NHA).
According to a recent letter from the ADB, the extension moves the bid validity deadline from March 6, 2026, to April 5, 2026, granting an additional 30 days for the process. The bank emphasized that this is the last extension that will be granted, stating, “The ADB approves an extension of bid validity from March 6, 2026, to April 5, 2026 (for a period of 30 days). This shall be the last and final extension of bid validity. The NHA is requested to ensure that the contract award is completed within this extended period, as the ADB envisages no further extension.”
The ADB further requested that the NHA submit any new and material information justifying the ongoing delays within the same period for the bank’s review. The letter warned that if the contract is not awarded within the extended bid validity period, or if sufficient justification is not provided, the matter may be considered a potential non-compliance case, which could have further implications for the project.
The CAREC Tranche-III project has already experienced approximately a year of delays, primarily due to issues involving the NHA. The $360 million loan is intended to support infrastructure development under the CAREC initiative, which aims to enhance regional connectivity and economic cooperation among Central Asian countries.
The ADB’s decision underscores the urgency for the NHA to finalize the contract award process within the stipulated timeframe to avoid jeopardizing the project’s future and the associated funding.
Reference Link:- https://www.pakistantoday.com.pk/2026/03/16/adb-grants-final-extension-for-dollar360m-carec-project-amid-nha-delays