Imran meets Xi; secures USD 6 billion Chinese package

TIL Desk/World/Beijing/ China on Friday reportedly agreed to provide USD 6 billion in aid to cash-strapped Pakistan to minimise its dependence on an International Monetary Fund bailout package as Prime Minister Imran Khan on a maiden visit in Beijing held talks with Chinese President Xi Jinping.

Khan, who arrived in Beijing in the early hours on Friday on a four-day visit, met Xi in the Great Hall of People where the two leaders also held one-on-one meeting besides delegation-level talks, Pakistan media reports said. Pakistan is expected to receive USD 6 billion economic package from China during the visit.

A loan of USD 1.5 billion is also expected to be offered, along with an additional package of USD 3 billion for the China-Pakistan Economic Corridor, the report said. The loan and the investments were reportedly part of the USD 6 billion package. There is no official comment from Beijing yet on the report.

This is the second USD 6 billion package which Khan has managed to obtain in the last few weeks as Pakistan reeled under severe financial crisis. Earlier during his visit to Saudi Arabia, Riyadh committed USD 6 billion funding which included USD 3 billion deferred payment for oil imports.