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Snubbed by China, Pakistan Rushes To Asian Development Bank For CPEC Project Loan
Pakistan has turned to the Asian Development Bank for a $2 billion loan to upgrade the Karachi-Rohri section of the ML-1 railway, the biggest CPEC project, after China pulled back citing payment delays and security risks. The move marks a shift in how Pakistan’s flagship infrastructure is funded.
China-Pakistan
With China’s strategic interest in CPEC—running through disputed Kashmir—Western scrutiny over Pakistan’s debt dependence grows.

Pakistan has moved to secure financing from the Asian Development Bank (ADB) for its largest Belt and Road Initiative (BRI) project, after China stepped back citing financial and security concerns, reported Nikkei Asia.

According to a senior government official, the Manila-based lender is preparing to extend a $2 billion loan for upgrading the 480-kilometer Karachi-Rohri stretch of the Main Line-1 (ML-1) railway. The project, estimated at $6.7 billion in total, involves modernizing the 1,726-kilometer rail corridor that links Karachi with Peshawar.

It is considered the backbone of the China-Pakistan Economic Corridor (CPEC), the $50 billion Pakistan leg of Beijing’s Belt and Road Initiative (BRI).

An ADB team inspected the section in July before agreeing in principle to finance it. If finalized, this will be the first time a core CPEC project is funded by a multilateral agency rather than China. However, the loan terms are expected to carry higher, market-based interest rates compared to the concessional lending Pakistan typically received under CPEC.

China’s hesitation marks a shift in approach. During his Islamabad visit on August 21, Chinese Foreign Minister Wang Yi encouraged third-party involvement in CPEC projects — a sharp contrast from Beijing’s earlier insistence on being the sole financier of ML-1. In fact, in 2017 Pakistan had declined an ADB offer, aligning with China’s preference for exclusive funding.





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