Pakistan dismisses US claim Islamabad financing CPEC exclusively through loans

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ISLAMABAD: Pakistan on Thursday dismissed the US claim that Islamabad had been financing the China Pakistan Economic Corridor (CPEC) exclusively through loans or non-concessional financing with sovereign guarantees.

Foreign Office Spokesperson Aisha Farooqui, speaking at the weekly briefing here, said that the total debt of the CPEC was $4.9 billion. This amount is not even equal to 10 per cent of Pakistan’s total debt, she added.

She said that it was government’s top priority to complete all CPEC projects.

Earlier, senior US diplomat Alice Wells had alleged on Tuesday that the CPEC projects lack transparency.

She added that as a result of Chinese financing, Islamabad’s debt burden was increasing.