Senior officials of Economic Affairs Division will visit China on Monday to sort out details for utilising a $500 dollar soft-term credit, offered by China for promoting economic activities in Pakistan.
The two sides would finalise modalities for the best use of financial support by Bank of China for investment in Pakistan.
The Bank's President would visit Pakistan to sign the credit deal, as soon the modalities are finalised, including the mode of re-payment, said a Bank official while talking to APP here. the credit facility will be available within a couple of months." The official added.
According to the sources, the 500 million dollar credit-line will be provided to Pakistan on highly soft terms. The interest rate may be around 3 and half percent. The credit would be utilised for important projects.
It was a special gesture of goodwill made by the Chinese government during the recent visit of President Pervez Musharraf to enhance Chinese investment in Pakistan.
Initial negotiation for utilisation of the credit facility has already been held by the Finance Minster Shaukat Aziz, when he visited Beijing last November.
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