China-Pakistan Economic Corridor (CPEC):
Pakistan Prime Minister Imran Khan has said that he was looking forward to enhancing trade ties with Sri Lanka through the multi-billion dollar China-Pakistan Economic Corridor (CPEC).
- The CPEC is the flagship project of the multi-billion-dollar Belt and Road Initiative (BRI), a pet project of Chinese President Xi Jinping, aimed at enhancing Beijing’s influence around the world through China-funded infrastructure projects.
- The 3,000 km-long China–Pakistan Economic Corridor (CPEC) consists of highways, railways, and pipelines.
- CPEC eventually aims at linking the city of Gwadar in South Western Pakistan to China’s North Western region Xinjiang through a vast network of highways and railways.
- The proposed project will be financed by heavily-subsidized loans, that will be disbursed to the Government of Pakistan by Chinese banks.