China offers $50 billion for hydroelectric projects in Pakistan

China offers $50 billion for hydroelectric projects in Pakistan

China-Investment

ISLAMABAD: The owner of the world’s largest hydroelectric dam, China Three Gorges Corporation, is willing to participate in a financing consortium to fund up to $50 billion of hydroelectric power projects in Pakistan.

The Chinese government-owned CTG expressed an interest in financing projects in Pakistan in conjunction with the International Finance Corporation, a World Bank subsidiary. This disclosure was made at the meeting of the Cabinet Committee on Energy on June 18. The offer comes on top of the $46 billion in financing for power and transportation infrastructure being provided by the Chinese government and Chinese banks to Pakistan for the construction of the China-Pakistan Economic Corridor (CPEC).

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