China commits $45.6 billion for economic corridor with Pakistan

November 21, 2014 1:05 PM

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China commits $45.6 billion for economic corridor with Pakistan

ISLAMABAD (Reuters) - 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, according to new details of the deal seen by Reuters on Friday. 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 earlier this month.

At the time, officials provided few details of the projects or the financing for the deal, dubbed the China-Pak Economic Corridor (CPEC).

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