Sunday, April 21, 2024

China Approves $1.3 Billion Financing for Pakistan

The Development Bank of China approved $1.3 financing for Pakistan.

Finance Minister Ishaq Dar said in a tweet that Pakistan has repaid a loan of $ 1.3 billion to the Chinese bank, has approved a facility of $ 1.3 billion again for Pakistan, which will increase Pakistan’s foreign exchange reserves. The money will be transferred to the Account of The State Bank of Pakistan today.

Ishaq Dar said that the State Bank of Pakistan is in touch with the UAE authorities, the document is being finalized to deposit one billion dollars.

On the other hand, the United Arab Emirates confirmed financial assistance of $ 1 billion. Finance Minister Ishaq Dar said that the UAE authorities have informed the IMF.

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