ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Belt and Road

Pakistan's stalled China-backed rail project prompts turn to Japan

Regional leaders show 'buyer's remorse' over cost of Belt and Road loans

Women and children cross a bridge along the Karachi Circular Railway in poor neighborhood in Karachi: Problems obtaining loans for the railway from China has local leaders looking for help from Japan.   © Reuters

KARACHI -- A regional government in Pakistan says it is open to funding from Japan for an urban railway after funding for the project under the China-Pakistan Economic Corridor, or CPEC, hit a snag.

On Tuesday, Skindar Sultan Raja, head of Pakistan's state-owned railway operator, told the Senate Standing Committee on Railways that the regional government of Sindh is willing to take a loan of $2.6 billion from the Japan International Cooperation Agency, JICA, to refurbish the Karachi Circular Railway, or KCR.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more