China would extend assistance to Pakistan at 1.6 percent interest rate for infrastructure projects under the China-Pakistan Economic Corridor (CPEC), it is learnt. Member, Infrastructure and Regional Connectivity of Planning Commission Malik Ahmad Khan confirmed that China would extend assistance to Pakistan at 1.6 percent interest for infrastructure projects under CPEC. Under the China-Pakistan Economic Corridor Projects (CPEC), China has promised to invest around $11.8 billion in infrastructure projects and $33.8 billion in various energy projects which will be completed by 2017 at the latest. According to sources, the corridor is a 2,700-kilometre highway that would stretch from Kashghar to Gwadar through Khunjrab. The CPEC will integrate the economies of the two friendly countries; it envisages several economic zones China has converted Rs 23 billion loans for Gwadar International Airport into a grant and extended an interest-free loan of Rs 13.5 billion for the construction of Gwadar East Bay Expressway. Member, Infrastructure and Regional Connectivity of Planning Commission confirmed that China has agreed to convert loans for the Gwadar International Airport into a grant and to extend an interest-free loan for the Gwadar East Bay Expressway.

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