China Denies Seeking Additional Guarantees For USD 6 Billion Loan For Rail Project In Pakistan

[beijingwalker]

China Denies Seeking Additional Guarantees For USD 6 Billion Loan For Rail Project In Pakistan
Last updated Dec 28, 2020

Beijing: China on Monday termed as baseless the reports that it has sought additional guarantees from Pakistan for sanctioning a whopping USD 6-billion loan for a railway line project and backing away from its initial financial commitments to the multi-billion dollars China-Pakistan Economic Corridor due to weakening financial position of its all-weather ally.

Chinese Foreign Ministry spokesman Zhao Lijian also rejected reports that China was backing away from its initial financial promises to Pakistan under the USD 60 billion CPEC amid rising corruption and militants' attacks.

These reports are baseless, Zhao told a media briefing here.

“I would also like to stress that against the global economic recession, China's input in the Belt and Road Initiative (BRI) including the CPEC has not reduced but rather increased against the odds,” he said.

“Over the first three quarters, China's direct financial investment in BRI countries increased by around 30 per cent, offering China's support to many BRI partner countries in their effort to fight the epidemic and recover their economy,” Zhao said.

The CPEC, which connects Gwadar Port in Pakistan's Balochistan with China's Xinjiang province, is the flagship project of China's ambitious multi-billion-dollar BRI. India has expressed concern over the project as a portion of the CPEC runs through Kashmir.

Latest Breaking News and Headlines - Pedfire

Pedfire brings you the latest breaking news, in-depth reports, and headlines from around the world. Stay updated with our comprehensive and timely news coverage

pedfire.com

 

[Beast]

@Indus Pakistan @RAMPAGE

So Chinese is all business and no friendship? So what happened now?

 

[beijingwalker]

It becomes a daily annoyance that Indians are spreading lies and fake news about China all over the internet everyday.

 

[ARMalik]

The problem is Pakistan's incompetent military and civilian leaders who are unable to ban these western social media platforms and main stream Pakistan media backed by foreign funding. These are shameless people who do not want to upset their foreign masters.

 

[Beast]

The problem is Pakistan's incompetent military and civilian leaders who are unable to ban these western social media platforms and main stream Pakistan media backed by foreign funding. These are shameless people who do not want to upset their foreign masters.

Worst is some Pakistanis take the bait and start curse and swear at China despite the massive amount of help China offer thru time and times.

Now they r no where to be found when an apologize are needed from them for the false accusation.

 

[ARMalik]

Worst is some Pakistanis take the bait and start curse and swear at China despite the massive amount of help China offer thru time and times.

Now they r no where to be found when an apologize are needed from them for the false accusation.

China is a great country. And hence I sometimes don't understand why the Chinese leaders would trust these shameless so called Pakistan leaders? I honestly don't understand. These people are corrupt and slaves to their Western masters.

 

[Beidou2020]

Stop falling for Indian and Western disinformation campaigns.

 

[Beast]

China is a great country. And hence I sometimes don't understand why the Chinese leaders would trust these shameless so called Pakistan leaders? I honestly don't understand. These people are corrupt and slaves to their Western masters.

I dont think u want China to send an army and replace your government and try play hero and claim who is good and who is bad for Pakistan, right?

So if this government is corrupted, we shall never cooperate and drop all economy activities with Pakistan until regime changed? When? China do not have crystal ball that tells us when a legi government will come.

I think u r asking too much from China. China is not USA who can pass judgement on others or think they are above all. Saddam Hussein and Gadaffi are all deemed corrupted and yet we see the unity and economy prosperity, peace under their leadership. Many journalist asked Libyan and Iraqi opinion with most of them claimed its mistake to overthrow them.

Ex president of China Jiang zeming is also highly corrupted and yet he steered China economy to new height. And so as the ex railway minister of China,Liu Zhijun. Sentence to death for corruption but undeniable contribution to China HSR.

China Deng Xiaoping has a saying, "It doesn't matter whether a cat is black or white, as long as it catches mice."

 

[ARMalik]

I dont think u want China to send an army and replace your government and try play hero and claim who is good and who is bad for Pakistan, right?

So if this government is corrupted, we shall never cooperate and drop all economy activities with Pakistan until regime changed? When? China do not have crystal ball that tells us when a legi government will come.

I think u r asking too much from China. China is not USA who can pass judgement on others or think they are above all. Saddam Hussein and Gadaffi are all deemed corrupted and yet we see the unity and economy prosperity, peace under their leadership. Many journalist asked Libyan and Iraqi opinion with most of them claimed its mistake to overthrow them.

Ex president of China Jiang zeming is also highly corrupted and yet he steered China economy to new height. And so as the ex railway minister of China,Liu Zhijun. Sentence to death for corruption but undeniable contribution to China HSR.

China Deng Xiaoping has a saying, "It doesn't matter whether a cat is black or white, as long as it catches mice."

You didn't understand my post. China should NOT have invested in CPEC in the FIRST PLACE knowing perfectly well how corrupt these people are. China should NOT have taken this risk. But perhaps China knew how corrupt these people were and decided to take the risk anyway. Anyways, it is TOO LATE now. The decision was made and CPEC went ahead.

 

[nahtanbob]

I think u r asking too much from China. China is not USA who can pass judgement on others or think they are above all. Saddam Hussein and Gadaffi are all deemed corrupted and yet we see the unity and economy prosperity, peace under their leadership. Many journalist asked Libyan and Iraqi opinion with most of them claimed its mistake to overthrow them.

Iraqi shites and kurds who are 80% of the population in Iraq have no tears for Saddam.

 

[Beast]

You didn't understand my post. China should NOT have invested in CPEC in the FIRST PLACE knowing perfectly well how corrupt these people are. China should NOT have taken this risk. But perhaps China knew how corrupt these people were and decided to take the risk anyway. Anyways, it is TOO LATE now. The decision was made and CPEC went ahead.

All investment always carry a risk. In fact , USD67 billion is peanuts to China. China need to diversify its trade route from different sea route and railroad. Investment do not see immediate returns. It may take even 2 decades to see return. All these are part of the broaden global strategy.

 

[Mrc]

So it was daily falch newj imminating from rape capital of world

 

[beijingwalker]

China rejects 'groundless' reports about gradually ending financial support to Pakistan
Chinese spokesperson says both countries are moving forward in the construction of mega projects
December 29, 2020


China on Tuesday rejected reports about gradually ending its financial support to Pakistan pledged under China-Pakistan Economic Corridor (CPEC).

During a press briefing in Beijing, Chinese Foreign Ministry spokesperson Zhao Lijian maintained that the reports are 'groundless' and confirmed that both countries are moving forward in the construction of this mega project.

He said that the CPEC International Coordination and Cooperation working group held its second meeting last Friday, adding that Pakistan and China reiterated their commitment to implementing the consensus reached by the leaders of both sides.

Earlier this month, China again bailed out Pakistan as it agreed to immediately provide $1.5 billion financing line to repay the $2 billion Saudi Arabia debt, sources told The Express Tribune.

China has not given the loan from its State Administration of Foreign Exchange, commonly known as SAFE deposits, nor has it extended a commercial loan, said the sources.

Instead, both the countries have agreed to augment the size of a 2011 bilateral Currency-Swap Agreement (CSA) by an additional 10 billion Chinse Yuan or around $1.5 billion, the sources said. This has increased the size of the overall trade facility to 20 billion Chinese Yuan or $4.5 billion.

The CSA is a Chinese trade finance facility that Pakistan has been using since 2011 to repay foreign debt and keep its gross foreign currency reserves at comfortable levels instead for trade related purposes.

China rejects 'groundless' reports about gradually ending financial support to Pakistan | The Express Tribune

Chinese spokesperson says both countries are moving forward in the construction of mega projects

tribune.com.pk

 

[Kingslayerr]

Indians should be banned from every single news related thing and theirs news channels should be closed down. Even the word INDIAN should also be banned. Bunch of pethatic liers. But its not surprising, its in their religion to lie for their benefit so nothing better to expect from them.

 

[nahtanbob]

For Pakistan it is deja vu. During the cold war India played both the USA and USSR while Pakistani leaders were hooked on American aid. Most of the mega projects makes no economic sense. It is just a way of entrapping Pakistan into dependence on China. India will try to play both USA and China. For example you have to generate to enough extra profit to pay the $6.8 billion on a railroad. Given the education level of the pakistani workforce it is not happening