China has agreed to support 36 projects that seek to promote economic development in various flood-hit areas across Pakistan. The projects are worth approximately USD13.2 billion.
The agreement was reached at the 14th meeting of the Pak-China Joint Committee on Economic, Trade, Scientific and Technical Cooperation, according to the Karachi-based Business Recorder. The projects include initiatives in the industry, water, energy, agriculture, communications and fisheries sectors.
Pakistani Finance Minister Hafeez Shaikh and Chinese International Trade Representative Gao Hucheng, who co-hosted the meeting, also announced that China will be increasing its investments in projects on Pakistan’s agriculture, finance, mining, infrastructure and electricity, among other sectors.