Pakistan to secure $ one billion in Chinese financing for roads: Report

1703

ISLAMABAD, Dec 27 (APP): Pakistan expects to secure soft loans from China of about $1 billion this week for three road projects in China-Pakistan Economic Corridor (CPEC), Reuters news agency quoted an official of NHA as saying on Tuesday.
The roads lie on the western route of CPEC, a $55 billion network of roads, rail links, power plants and other infrastructure connecting western China to Pakistan’s southern port of Gwadar.
They include roads from Raikot to Thakot, Yarik to Zhob and from Basima to Khuzdar, Ashraf Zaman, spokesman for Pakistan’s National Highway Authority (NHA) told Reuters.
Zaman said a deal was reached with the Chinese to finance the three additional roads in November.
“Hopefully, agreement will be signed between the two countries in this regard in China-Pakistan Joint Cooperation Committee (JCC) meeting to be held on Dec. 29 in Beijing,” the new agency quoted Ashraf Zaman as saying.