A recent report from AidData, a US-based international development research lab, has revealed that Pakistan is the third-largest recipient of Chinese development finance worldwide, with a substantial portfolio of $70.3 billion. As per the report, Pakistan constitutes China’s third-largest country-level loan portfolio globally, following Russia and Venezuela, with a total of 161 loans worth $68.9 billion. The report notes a shift in Chinese development finance, with a higher proportion now being allocated to rescue loans rather than developmental projects. Out of 127 infrastructure projects worth $38.8 billion, only three projects worth $452 million have been suspended or canceled. The report highlights that Pakistan’s energy portfolio represented 10.2 percent of China’s global energy portfolio across numerous countries.

Source: Pakistan Today November 07, 2023 18:11 UTC