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China's Silk Road Fund makes first investment in Pakistan's hydropower project

Xinhua, April 21, 2015 Adjust font size:

The first project of China's 40-billion-USD Silk Road Fund for investment in the Belt and Road initiative was unveiled on Monday during Chinese President Xi Jinping's state visit to Pakistan.

The fund will inject capital in China Three Gorges South Asia Investment Ltd, a subsidiary of the China Three Gorges Corp, to develop Pakistan's Karot hydropower project and other clean-energy projects, according to a joint statement issued by the two countries.

It is the fund's first investment since its establishment in December.

The Silk Road Fund will actively expand financing opportunities for other projects under the framework of the China-Pakistan Economic Corridor, said the statement, adding that the fund will play a key role in supporting the implementation of China's "One Belt, One Road" initiative. Endi