BEIJING (INP): China's largest
commercial bank has announced that it provided short-term financing of $20
million for a rapid transit-line project in Pakistan last month. The
26-kilometer Orange Line project, currently under construction in Lahore, is
being built according to Chinese standards and will use metro vehicles and
electromechanical systems made in China. It is the first large rail transit
project launched under the bilateral economic corridor between Pakistan and
China as part of the Belt and Road Initiative, which aims to promote
connectivity amongst Asian, European and African continents and their adjacent
seas. As the only Chinese commercial bank in Pakistan, Industrial and
Commercial Bank of China Ltd has been actively supporting projects of the CPEC.
The bank issued a $25 million loan for the 50 megawatt Dawood wind farm project
in December 2015 and $100 million export buyer's credit for the construction of
a 49.5 megawatt Sachal wind farm in Sindh the same year.
BEIJING (INP): China's largest commercial bank has announced that it provided short-term financing of $20 million for a rapid transit-line project in Pakistan last month.
The 26-kilometer Orange Line project,
currently under construction in Lahore, is being built according to Chinese
standards and will use metro vehicles and electromechanical systems made in
China. It is the first large rail transit project launched under the bilateral
economic corridor between Pakistan and China as part of the Belt and Road
Initiative, which aims to promote connectivity amongst Asian, European and
African continents and their adjacent seas.
As the only Chinese commercial bank
in Pakistan, Industrial and Commercial Bank of China Ltd has been actively
supporting projects of the China-Pakistan Economic Corridor (CPEC). The bank
issued a $25 million loan for the 50 megawatt Dawood wind farm project in
December 2015 and $100 million export buyer's credit for the construction of a
49.5 megawatt Sachal wind farm in Sindh the same year.
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