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China will renew loan and extend aid to Pakistan

China will renew loan and extend aid to Pakistan

Islamabad, Jun 15 (Prensa Latina) China agreed to refinance a loan of 2,3 million dollars to Pakistan and will also extend an additional aid between 2,5 and 2,8 million dollars, it was released.

The recent visist to Beijing by Pakistan’s Chief of Army Staff, General Qamar Javed Bajwa, was a resounding success in securing a very valuable package, the Business Recorder newspaper reported.

Negotiations are currently underway, with a possible first phase of aid where 2,3 billion dollards would be transferred and in the second phase another 2,5 and 2,8 billion would be disbursed, expected in November or early December.

Besides, China agreed to expand the military aid and revive the strategic partnership between both countries with the objective of raising it to the next cooperation level in several fields under the China-Pakistan Economic Corridor (CPEC).

Both nations discussed their perspectives on the international and regional security situation and expressed satisfaction over defense cooperation.

Pakistan and China reaffirmed their strategic partnership in difficult times and agreed to continue regular exchange of perspectives on issues of mutual interest and also pledged to enhance their cooperation in training, technology and counter-terrorism, the source noted.


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