ISLAMABAD: Asian Development Bank (ADB) Vice President Wencai Zhang has said that the bank is interested in investing in the China-Pakistan Economic Corridor (CPEC) and in the Gwadar city.
He said this while talking to media at the conclusion of his five-day visit to Pakistan, the official made to find new areas of cooperation and to get first-hand information about economic cooperation.
Wencai Zhang said that the CPEC, Special Economic Zones and other initiatives have huge financial needs and the ADB can complement Pakistan and China’s efforts.
Gwadar Port needs a lot of investment in coming years, he said, adding that authorities have named a few projects for transport, city development, water supply and road and rail to link Gwadar with other cities for which they seek the ADB support.
He said the authorities would first have to talk to the central government for the ADB support and that the bank had so far received no formal request from the government.
The ADB vice president said he had also discussed a plan to invest in the Pakistan Railways on a medium to long-term basis. “The railway minister mentioned three main lines but we have not yet picked any line for investment.”
