According to Nong Rong, the Chinese ambassador to Pakistan, China has so far committed more than $90 million in aid to Pakistan in response to the terrible floods brought on by the monsoon rains.
The Chinese ambassador reaffirmed his government’s ongoing assistance to Islamabad in a speech that was recorded and then posted on Twitter.
“China is Pakistan’s most dependable iron brother. China has announced the largest amount of assistance to Pakistan since the terrible floods there, according to Nong Rong.
The ambassador stated, “The entire amount of support has exceeded RMB 644 million (about $90 million),” and added that the Chinese government, the Communist Party of China, the Chinese army, and the Red Cross are all contributing to the effort. Chinese society, along with its sister provinces, cities, and businesses.
He continued, “Some country better provide actual and useful things for the people of Pakistan, instead of pointing fingers against China-Pakistan collaboration.
In response to the US Secretary of State’s call for debt relief, Chinese Foreign Ministry spokesman Wang Wenbin stated that in addition to the Chinese government’s RMB 400 million in humanitarian aid, China’s civil society has also contributed.
“China and Pakistan have had successful economic and financial cooperation,” the official said. “The Pakistani people know it best,” it said, adding that “the US could as well do something practical and useful for the people of Pakistan instead of passing unfounded criticism on Beijing-Islamabad cooperation.”
In light of the nation’s economic situation, which has been made worse by severe floods, Washington rolled over an agreement to suspend service payments on $132 million of Islamabad’s debt, according to the US embassy.
The economy of Pakistan is struggling with its balance of payments, a growing current account deficit, a decline in its currency to historic lows, and inflation that has reached 27%.
Meanwhile, devastating floods devastated huge portions of the nation in late August, killing more than 1,500 people and causing $30 billion in damages, fueling worries that Pakistan would not be able to pay its debts.
It is important to note that after the nation suffered extensive flood-related devastation, US Secretary of State Antony Blinken advised Pakistan to request debt relief and restructuring from China, its single-largest creditor.