ISLAMABAD: The government announced on Monday that Pakistan and China had agreed to form a consortium of bilateral and multilateral partners to finance the $7 billion Mainline-1 (ML-1) railway project, along with a four-year action plan (2025-29) for the second phase of the China-Pakistan Economic Corridor (CPEC).

Speaking at a news conference, Planning and Development Minister Ahsan Iqbal said that during Prime Minister Shehbaz Sharif’s recent visit to China, the two sides had agreed to constitute a consortium of financiers, including the Asian Development Bank (ADB), Asian Infrastructure Investment Bank........

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