Karakoram Highway May and 31 December. Karakoram Highway The Karakoram Highway (, also known as N-35 or National Highway 35 (), or the China-Pakistan Friendship Highway) is a national highway which extends from Hasan Abdal in the Punjab province of Pakistan to the Khunjerab Pass in Gilgit-Baltistan, where it crosses into China and becomes China National Highway 314. The highway connects the Pakistani provinces of Punjab, Khyber Pakhtunkhwa and Gilgit-Baltistan with China's Xinjiang Uyghur Autonomous Region. The highway is a popular tourist attraction, and is one of the highest paved roads in the world, passing through the Karakoram mountain range, at at
Reconstruction of the Karakoram Highway Bank of China and the China Development Bank. For comparison, loans for previous Pakistani infrastructure projects financed by the World Bank carried an interest rate between 5% and 8.5%, while interest rates on market loans approach 12%. The China Development Bank will finance the $920 million towards the cost of reconstruction of the portion of the Karakoram Highway between Hasan Abdal and Raikot. An addition $1.26 billion will be lent by the China Exim Bank for the construction of the Havelian to Thakot portion of this stretch of roadway, to be dispersed as low-interest rate concessional loans. Construction works on