China plans to spend $46 billion on infrastructure in Pakistan, dwarfing U.S. program: "ISLAMABAD, Pakistan—Chinese President Xi Jinping kick-started $28 billion in infrastructure projects in Pakistan, in a visit meant to showcase deepening ties between the two countries.
Mr. Xi arrived Monday on his first state visit to Pakistan, where his government unveiled a massive infrastructure development program known as the China-Pakistan Economic Corridor.
Islamabad and Beijing have been close strategic allies for decades, based on their mutual antagonism toward India, but their economic ties had lagged behind.
On Monday, Mr. Xi finalized agreements or broke ground on $28 billion of advance projects out of the total $46 billion, ranging from upgrading Pakistan’s railways to building power plants, said Ahsan Iqbal, Pakistan’s planning minister."
'via Blog this'
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