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MOFA: Corridor projects boost Pakistan’s economic strength

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2019-04-08 20:07:54CGTN Editor : Sun Tian ECNS App Download

The projects in the China-Pakistan Economic Corridor have not increased the burden on Pakistan, but have boosted the economic strength of the Pakistani side, Lu Kang, spokesman for the Chinese Ministry of Foreign Affairs (MOFA) said at a regular press conference on Monday.

"In the past five years of the construction of the corridor, 22 projects have been completed in the early stage, creating tens of thousands of jobs for the local community, and meeting the power supply needs of 8.6 million households," Lu pointed out.

"These have greatly improved the infrastructure of Pakistan, and effectively promoted the livelihood and well-being of the Pakistanis. They have been welcomed by the Pakistani government and people," Lu added.

"I hope that the relevant media can go to Pakistan to have the local people's views on the China-Pakistan Economic Corridor and be able to make a realistic evaluation of the China-Pakistan cooperation," Lu responded.

Some media recently commented that less than half of Chinese infrastructure construction projects in Pakistan have been completed and that Pakistan has obtained a large number of funds from China which has not been converted into economic growth but has increased the local financial risks.

The China-Pakistan Economic Corridor is a landmark project for the cooperation between the two countries in the new era and is an important pilot project for the Belt and Road Initiative.

"It is a global practice to implement major projects through international financing, and it is also an effective way for developing countries to break through funding bottlenecks and boost growth," Lu said.

Less than 20 percent of the current projects in the China-Pakistan Economic Corridor have used Chinese loans, and more than 80 percent have been through Chinese direct investment and free aid, according to Lu.

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