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Wednesday, March 14, 2012

Pakistan: "Chinese bank ditches Iran gas project"

From Dawn

"A consortium led by the Industrial and Commercial Bank of China (ICBC) has ‘run away’ from providing financial advisory services for the Iran-Pakistan gas pipeline project apparently because of the US opposition to the plan and forced the government to look for alternative financing options.

“It is apprehended that a probable reason for not signing the agreement (to act as financial adviser for the project) till date could be geopolitical situation in the region,” a summary presented to the Economic Coordination Committee (ECC) of the cabinet on Tuesday said."

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