The CPEC project envisages major upgrades and overhauls to Pakistan's transportation infrastructure. Under the CPEC project, China has announced financing for $10.63 billion worth of transportation infrastructure so far; $6.1 billion have been allocated for constructing "Early Harvest" roadway projects at an interest rate of 1.6 percent.[87] The remainder of funds will be allocated when the Pakistani government awards contracts for the construction of road segments which are still in the planning phase.