China denies seeking additional guarantees for USD 6 bn loan for rail project in Pakistan

China denies seeking additional guarantees for USD 6 bn loan for rail project in Pakistan

China on Monday termed as baseless the reports that it has sought additional guarantees from Pakistan for sanctioning a whopping USD 6-billion loan for a railway line project and backing away from its initial financial commitments to the multi-billion dollars China-Pakistan Economic Corridor due to weakening financial position of its all-weather ally.