China seeks additional guarantees for $6b new loan

China seeks additional guarantees for $6b new loan

ISLAMABAD:

China has sought additional guarantees before sanctioning $6 billion loan for Main Line-1 (ML-1) project due to weakening financial position of Pakistan and also proposed a mix of commercial and concessional loan against Islamabad’s desire to secure the cheapest lending.

The issue of additional guarantees was raised during the third joint ML-1 financing committee meeting, held ten days ago, official documents said.

Read More : https://tribune.com.pk/story/2277059/china-seeks-additional-guarantees-for-6b-new-loan

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