China loans Pakistan $8.2b for nuclear plants
ISLAMABAD (AFP) - China has agreed to lend Pakistan US$6.5 billion (S$8.2 billion) to help build nuclear power stations including a 2,200-megawatt plant in Karachi, as Beijing increases its involvement in the cash-strapped country.
Prime Minister Nawaz Sharif announced the package at a briefing on Wednesday, saying it would help ensure an uninterrupted power supply.
The loans are to be provided by Chinese state-owned Exim Bank and will be repaid at a concessional rate over 20 years, according to reports.
A finance ministry spokesman confirmed the deal to AFP on Thursday.