Chinese banks reluctant to fund CPEC (China Pakistan Economic Corridor)

Facing a capital shortage, Chinese banks are reluctant to fund China Pakistan Economic Corridor. Both China and Pakistan are heavily in debt.

China–Pakistan Economic Corridor (CPEC) is a collection of infrastructure projects throughout Pakistan since 2013.

According to Wikipedia:

Originally valued at $46 billion, the value of CPEC projects is worth $62 billion as of 2017. CPEC is intended to rapidly upgrade Pakistan’s required infrastructure and strengthen its economy by the construction of modern transportation networks, numerous energy projects, and special economic zones. On 13 November 2016, CPEC became partly operational when Chinese cargo was transported overland to Gwadar Port for onward maritime shipment to Africa and West Asia, while some major power projects were commissioned by late 2017.