CPEC has solved the problem of limited investment capacity caused by insufficient savings and shortage of foreign exchange in Pakistan and provided a high-quality source of impetus for Pakistan’s economic development. It drove Pakistan’s economic growth by one to two percentage points every year and created 70,000 jobs in Pakistan. The Chinese government provided US$5.874 billion in concessional loans to Pakistan, with a consolidated interest rate of only 2%, far lower than the average interest rate. The Chinese government also provided US$143 million in interest-free loans for the Gwadar East-Bay Expressway project and free assistance for some livelihood projects in Pakistan. CPEC has regarded the alleviation of energy shortage in Pakistan as one of the important areas of construction since its launch.

Source: Pakistan Today April 26, 2019 09:00 UTC