Business

China’s ICBC to provide $4.3 bln in financing for Pakistan power projects

BEIJING: Industrial and Commerical Bank of China (ICBC) , the world’s biggest lender by assets, said on Tuesday it has agreed to provide $4.3 billion in financing for energy and electricity projects in Pakistan.

Print Friendly, PDF & Email

The four power projects, all located in the China-Pakistan Economic Corridor, are major infrastructure projects for China’s “One Belt, One Road” initiative, the bank said in a statement sent by email.

ICBC Chairman Jiang Jianqing signed the agreement on Monday in Islamabad. Chinese President Xi Jinping and Pakistani Prime Minister Nawaz Sharif oversaw the signing ceremony.

Print Friendly, PDF & Email

Comments

comments




ARY Sports

Copyright © 2017 ARYNEWS.tv

To Top

China’s ICBC to provide $4.3 bln in financing for Pakistan power projects

by Zohaib Kazmi