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Home »Money and Banking » Pakistan » Soft loans for remote-sensing satellite project: accord signed with Exim Bank

  • News Desk
  • May 17th, 2017
  • Comments Off on Soft loans for remote-sensing satellite project: accord signed with Exim Bank
An agreement was signed on Tuesday between the Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatisation of government of Pakistan and the Export Import Bank of China (Exim Bank) for providing governmental soft loans for Pakistan remote sensing satellite project. The agreement was signed in the presence of Chief Minister Punjab Muhammad Shahbaz Sharif and President Exim Bank of China Liu Liange.

Shahbaz Sharif in his meeting with President of Export Import Bank of China (Exim Bank) Liu Liange briefed him about the China Pakistan Economic Corridor (CPEC) which is the most vital part of One Belt One Road Project. He talked about the positive impacts of the great project of One Belt One Road which is the reflection of political acumen and futurist approach of Chinese visionary President Xi Jinping.

Shahbaz Sharif also held a meeting with President of Industrial & Commercial Bank of China (ICBC) Gu Shu in Beijing, and held discussions for enhancing investment in energy, infrastructure, and other sectors. The ICBC President, on the occasion, said the province of Punjab has proved that it has tremendous opportunities of investment. Co-operation for the promotion of investment in the Punjab would continue, he added. Shahbaz Sharif said a new chapter of friendship of Pakistan and China has been written and every possible facility has been provided to the Chinese investors. The Punjab government has taken solid steps for the promotion of investment because the enhancement in investment would increase the opportunities of employment.

Shahbaz Sharif also held another meeting with President of Asian Infrastructure Investment Bank Jin Liquin in Beijing. The President of Asian Infrastructure Investment Bank assured for the provision of resources on priority basis for projects initiated with Chinese co-operation and said that Chinese financial institutions have had a good experience of work in Pakistan. He added that no shortage in provision of resources for projects will ever happen in future too. The Chief Minister, on the occasion, said that the speed of work is sufficiently fast on the projects due to provision of resources by the Chinese banks. The completion of projects through Chinese co-operation would benefit million of people of Pakistanis, he further said.

The Punjab Chief Minister also had a meeting with a high-level delegation of Chinese Ministry of Industry and Information Technology led by Director Luv Min in Beijing. The meeting agreed to extend co-operation in industry and information technology sectors.

The delegation of famous energy group of China TBEA called on Chief Minister Muhammad Shahbaz Sharif in Beijing. The meeting discussed co-operation in energy-related ventures, especially the solar power projects. The Chinese company showed its interest for further investment in energy sector. The internationally acclaimed economist of Peaking University and former Senior Vice President of the World Bank Professor Justing Yifullin called on Punjab Chief Minister Muhammad Shahbaz Sharif in Beijing.



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