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China seeks additional guarantees before sanctioning USD 6 billion loan for rail project in Pakistan
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China asks Pakistan additional guarantees before sanctioning $6 billion loan for rail project
China has also proposed a mix of commercial and concessional loans to fund the rail project, going against Islamabad s wishes of cheapest lending .
(Photo: Reuters)
Sajjad Hussain
, PTI
China has sought additional guarantees before sanctioning a $6-billion loan for the Main Line-1 railway project in Pakistan, due to the country s weakening financial position
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ISLAMABAD :
China has sought additional guarantees before sanctioning a $6-billion loan for the Main Line-1 (ML-1) railway line project in Pakistan, due to the country s weakening financial position, according to a media report on Wednesday.