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Struggling to repay, Pakistan to seek debt relief from China Belt and Road loan SECTIONS Struggling to repay, Pakistan to seek debt relief from China Belt and Road loanBy Faseeh Mangi, Bloomberg Last Updated: Feb 10, 2021, 10:01 AM IST Share Synopsis In informal talks, Pakistan and China have discussed easing terms on the repayment of debt on about a dozen power plants, according to a person with knowledge of the matter. Reuters An enormous build-out of Chinese-financed power plants in Pakistan, which was originally intended to solve its electricity shortages, has resulted in a surplus that Islamabad isn’t able to afford. ....
$5.3bn Chinese loan delaying Ibadan-Kano railway construction –Amaechi OKECHUKWU NNODIM The construction of the Ibadan to Kano railway will commence once the Chinese government approves its $5.3bn loan to Nigeria, the Federal Government said on Saturday. The Minister of Transportation, Rotimi Amaechi, who disclosed this at a programme in Abuja, stated that the Federal Government had given approval for the contract. He was quoted in a statement issued in Abuja by his media aide, Taiye Edeni, as saying, “We are waiting for the Chinese government and bank to approve the $5.3bn to construct the Ibadan-Kano. What was approved a year ago was the contract. ....
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