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Statement from Chinese Embassy in Islamabad on CPEC Debt

The Embassy of China in Pakistan has taken note of a recent report by a Pakistani journalist, in which he claimed that Pakistan will repay $40 billion debt to China under China-Pakistan Economic Corridor (CPEC). This number of $ 40 billion is wrong and misleading. The Ministry of Planning has issued a statement for clarification. The Embassy would like to further clarify as below: The CPEC is a major and important economic cooperation project between China and Pakistan. All CPEC projects are based on consensus of the two countries, and fully comply with relevant laws and regulations. Currently, 22 early harvest projects under the CPEC have been completed or are under construction, with a total investment of $ 18.9 billion. These projects aim at resolving two major bottlenecks hindering economic development of Pakistan, namely lack of transportation infrastructure and energy shortage. The financing details of 22 projects are as follows:..........................

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