Pak turns to ADB under its 'cup-in-hand' model as China refuses to fund railway line: Report
Pakistan turned to Asian Development Bank (ADB) and Asian Infrastructure Investment Bank under its 'cup-in-hand' model after China refused to extend a loan for building $10-billion Peshawar-Karachi railway line, Moneycontrol reported. China insisted Pakistan cut costs to $6.7 billion, following which it refused to extend the loan at lower rates. ADB is considering financing a part of the project.