Wednesday, March 24, 2004

Interest free

China has given Pakistan a 12 million dollar "military loan."

China's visiting defence minister has pledged a 100 million yuan (12 million dollar) interest-free loan for Pakistan's armed forces, a report said on Tuesday.

The loan is to strengthen and develop ties between the two countries' armed forces, the official Associated Press of Pakistan (APP) reported.

Cao Gangchuan flew into Islamabad on Monday for a five-day visit.

"China attaches importance to its friendly relations with Pakistan and this relation had been unbeatable since decades," he said during a meeting with his Pakistani counterpart, Rao Sikandar Iqbal.

Iqbal praised "the invaluable assistance, extended by China to Pakistan, in the field of defence and defence production," APP said.

He also briefed the Chinese defence minister about the efforts being made Pakistan "to stamp out the menace of terrorism".


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