China About to Start $35 Billion of Silk Road Plan in Pakistan

More than three quarters of $46 billion of planned Chinese-led investment in Pakistan will be implemented by next year as part of the world’s second-largest economy’s flagship Silk Road plan.

About $11 billion has been allocated to infrastructure projects including roads, with concessional loans provided at about 2 percent with payback in 20 years, along with a five-year grace period, said Iqbal. The rest has been earmarked for generating electricity, with about 11,000 megawatts expected to be added by 2018 to end the nation’s chronic power outages. A further $8 billion would be provided by China and the Asian Development Bank to update Pakistan’s dilapidated railway network.

The first consignment of Chinese goods was shipped from the flagship port of Gwadar this month after trucks from China made the 3,000 kilometers journey from western Xinjiang province to restive southwestern province of Balochistan.

(Hellenic)