BEIJING: China on Monday said that less than 20 per cent of the current projects under the China-Pakistan Economic Corridor (CPEC) were using Chinese loans and over 80 per cent CPEC ventures were direct Foreign Direct Investment (FDI) projects or grants. During a media briefing here, Chinese Ministry of Foreign Affairs Spokesperson Lu Kang rebuked western media criticism stating that CPEC projects were adding to Pakistan’s economic woes. “Only less than 20 per cent of the current CPEC projects are using Chinese loans and more than 80 per cent of them are directly invested by China or using Chinese grants. So, these CPEC projects did not further increase Pakistan’s burden. Lu Kang went on to say that CPEC has greatly improved Pakistan’s infrastructure and power supply and of course, it is welcomed by the Pakistan government and its people.

Source: Pakistan Today April 08, 2019 17:24 UTC