BEIJING, April 21 -- China's Silk Road Fund on Monday unveiled its first project forinvestment in the Belt and Road initiative during Chinese President Xi Jinping's state visitto Pakistan, marking a milestone of the all-weather strategic partnership of cooperationbetween the two countries.
Meanwhile, the first project of the 40-billion-U.S.-dollar fund means the Silk RoadEconomic Belt and the 21st Century Maritime Silk Road initiatives have taken another stepforward.
The investment into the 1.65-billion-dollar Karot hydropower project in Pakistan, alongwith other hydropower projects in the region, will help the South Asian country upgradepower supply and improve its economic performance.
Moreover, as Xi put it, the project is of significant meaning to choose the KarotHydropower Station in Pakistan as the first investment project of the Silk Road Fund sinceits establishment last December.
For the project is a priority within the broader China-Pakistan Economic Corridor (CPEC)initiative, a flagship program of China's Belt and Road initiative.
The CPEC is a planned network of roads, railways and energy projects linking southwestPakistan's deepwater Gwadar Port with northwest China's Xinjiang Uygur AutonomousRegion.
With the CPEC at the center, China and Pakistan could achieve a win-win result andcommon development, and bring benefit to their people.
For China, it would shorten the route for its energy imports.
For Pakistan, a "1+4" cooperation structure with the CPEC at the center and the GwadarPort, transport infrastructure, energy and industrial cooperation being the four key areas,will boom the country's economy and improve people's livelihood.
Furthermore, advancing the construction of the CPEC will set an example for other majorprojects of interconnectivity in this region, and inject confidence into other countries alongthe Belt and Road.
Owing to the corridor's geographical position where the Belt and Road meet, the CPEC isexpected to combine South Asia, Central Asia, Middle East and China together, and benefitdirectly about 3 billion people in the whole region.
Based on this, it could function as a bridge in advancing the Belt and Road initiative afterbeing well developed and successfully operated.
Actions speak louder than words. China, as a responsible power in the world, has alwaysmaintained peace and stability in the region and exerted great efforts to bringdevelopment opportunities for other countries.