China to establish $40b fund for a new Silk Road, says PM

November 8, 2014 Off By Web Desk

ISLAMABAD: Prime Minister Nawaz Sharif has said that China-Pakistan Economic Corridor will be a catalyst for growth for the two countries. He said Chinese President Xi Jinping has announced to establish a $40 billion infrastructure fund to build a new Silk Road.

He made this announcement at a dialogue meeting in Beijing on strengthening connectivity and improving cooperation in the country’s neighbourhood. Among other Asian leaders, Prime Minister Mohammad Nawaz Sharif also attended the event.

In his address on the occasion, he appreciated China for taking a remarkable initiative to host such a valuable dialogue. He also lauded China’s role in helping Pakistan to meet its development needs.

He said China Pakistan Economic Corridor, linking China’s West to Pakistan’s southern port of Gwadar, in close proximity to the Middle East, is a flash point project that is being vigorously pursued by both the governments.

He said Pakistan views this corridor as a catalyst for development of our two countries and for regional economic cooperation.

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