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gwadar port in pakistan

CPEC Received $62 Billion in Chinese Grants and Soft Loans

September 7, 2017 12:05 am Published by

China and Pakistan have long hailed each other as “all-weather friends”, or “iron brothers,” as close as “lips and teeth." The mutual bond between the two countries has been described as "higher than the Himalayas, deeper than the deepest ocean, and sweeter than honey."

To date, the China-Pakistan Economic Corridor (CPEC) has received $62 billion in Chinese grants and soft loans, to fund infrastructure projects in Pakistan. This figure has grown from the original investment of $46 billion. The Chinese money is being used to improve power plants, roads, railways, dams, industrial zones, agricultural enterprises, warehousing, pipelines, and develop a deep-water port in Gwadar. 

If CPEC gets electricity and goods flowing efficiently in the country, then Pakistan's growth could rise by more than two percentage points a year. China’s chief aim is to gain access to the Indian Ocean, a move that would better encircle India.

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