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China Commits $45 Billion for Economic Corridor with Pakistan
Dec 09, 2014

The Chinese government and banks will finance Chinese companies to build $45.6 billion worth of energy and infrastructure projects in Pakistan over the next six years. The Chinese companies will be able to operate the projects as profit-making entities, according to the deal signed by Prime Minister Nawaz Sharif during a visit to China recently.

Pakistan and China, both nuclear-armed nations, consider each other close friends. Their ties are underpinned by common wariness of India and a desire to hedge against US influence in South Asia.

China has promised to invest around $33.8 billion in various energy projects and $11.8 billion in infrastructure projects.

The deal says the Chinese government and banks, including China Development Bank, and the Industrial and Commercial Bank of China Ltd (ICBC), one of China’s Big Four state-owned commercial banks, will loan funds to Chinese companies, who will invest in the projects as commercial ventures.


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