Almost 100% of China’s Development Funding to Pakistan in Less-Than-Generous Loans, Says Report

News Snapshot:

As much as 98 percent of China’s development funding for its all-weather ally Pakistan came in the form of less-than-generous loans, with only two percent coming in the form of grants between 2000 and 2021, according to a research report. The China-Pakistan Economic Corridor (CPEC), a global infrastructure and investment initiative by Beijing, was launched in 2013. It is thought to be the largest partnership of China’s Belt and Road Initiative (BRI). It increased to over USD 62 billion over time, and at least USD 25 billion was invested in cash-strapped Pakistan. Out of the total Chinese development finance portfolio...