BEIJING, March 19: Pakistan and China on Friday concluded talks for $500 million credit, offered by the Chinese government. "We hope the credit will be available to the Chinese companies within next couple of months for making investment in Pakistan," said official sources.

The sources told APP that president of Exim Bank of China would visit Islamabad next month to formally sign the $500 million credit deal. The modalities of the credit including the interest rate had almost been finalized.

"We have negotiated with the officials of the Exim Bank in detail, so that we could get the credit on easiest possible terms," said a Pakistani official. Pakistan's side was led at the talks by joint secretary, Economic Affairs Division, Muhammad Saleem Sehti.

According to the sources, the $500 million credit line would be utilized for a variety of development projects, to be approved by the government of Pakistan. It was offered to Pakistan as a goodwill gesture by the Chinese side during the recent visit to China by President Pervez Musharraf. -APP