China's ICBC to provide $4.3 billion in financing for Pakistan power projects
Reuters
Published Apr 21, 2015 03:36
China's ICBC to provide $4.3 billion in financing for Pakistan power projects
BEIJING (Reuters) - Industrial and Commerical Bank of China (ICBC) (SS:601398) (HK:1398), the world's biggest lender by assets, said on Tuesday it has agreed to provide $4.3 billion in financing for energy and electricity projects in Pakistan.
The four power projects, all located in the China-Pakistan Economic Corridor, are major infrastructure projects for China's "One Belt, One Road" initiative, the bank said in a statement sent by email.
ICBC Chairman Jiang Jianqing signed the agreement on Monday in Islamabad. Chinese President Xi Jinping and Pakistani Nawaz Sharif also attended the signing ceremony.
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Written By: Reuters
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