Exim Bank of China
The energy projects under CPEC will be constructed by private Independent Power Producers, rather than by the governments of either China or Pakistan. The Exim Bank of China will finance these private investments at 5–6% interest rates, while the government of Pakistan will be contractually obliged to purchase electricity from those firms at pre-negotiated rates. In April 2020, hit by the COVID-19 pandemic, Pakistan asked China to ease repayment terms on $30bn worth of power projects.