On May 13, 2017, China and Pakistan signed a US$50 billion Memorandum of Understanding (MoU) to develop and complete the North Indus River Cascade which has the potential of generating 40,000 MW hydroelectric power.[1] The MoU was signed during the Diamer-Bhasha Project Conference hosted by China’s National Energy Administration (NEA) in Beijing, China. The conference was part of the Belt and Road Summit held in Beijing during May 14-15, 2017.
This $50 billion investment is in addition to the $57 billion projects being committed by Chinato power and road infrastructure projects in Pakistan under the China-Pakistan Economic Corridor (CPEC). With this agreement, China emerges as the leading financier of infrastructure development in Pakistan.
