Karachi: New agreements with China have revived developments under the Belt & Road Initiative (BRI) in Pakistan, Bloomberg reported on Thursday. The international publication added that within the last month, Pakistan signed projects worth USD 11 billion with China under the said initiative.
According to World Bank (WB) estimates, since the launch of BRI in 2013, China has constructed and initiated projects worth USD 575 billion across the globe. These include energy plants, roads, ports, railways, and many other types of projects.
According to details on projects part of BRI developments, within the last month, Pakistan signed agreements China for two hydropower generation projects in Azad Jammu & Kashmir (AJK) worth USD 3.9 billion. Both countries also signed a deal for revamping Pakistan’s colonial-era railways. This project is worth USD 7.2 billion – making it the most expensive Chinese project in Pakistan so far. Meanwhile, Beijing has stated that its projects in Pakistan have undergone major progress over the last six years. Officials added that China fully supported the development of CPEC projects.
