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China rejects as 'totally false' report about Pak seeking more loans to keep CPEC alive

Press Trust of India  |  Beijing 

today rejected as "totally false" a media report about approaching it for more loans to keep Xi Jinping's ambitious multi-billion dollar China-Economic Corridor project alive.

recently reported that has asked to give it more loans to continue the project.

"These reports are totally false," said, responding to a question about the report.

In fact, Pakistan's has made a clarification on this matter stressing that his country will continue with the CPEC construction, Hua added.

The USD 50 billion CPEC, a flagship project of Xi's Belt and Road Initiative (BRI), will connect China's Muslim-majority Xinjiang region with giving it access to the

"We noted the shortage of foreign reserves in Pakistan and we believe Pakistan will try to maintain steady economic development against all odds," Hua said when asked about the media report that Pakistan is facing a ballooning debt and shortage of foreign reserves.

"In recent times, the CPEC has played a positive role in helping in Pakistan achieving high economic development supported by the government and people. We believe this will not be interrupted by other factors," the added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 18:30 IST