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…
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.
Out of Chinese Bank’s #ICBC approved facility of $1.3 billion (which was earlier repaid by Pakistan), State Bank of Pakistan would receive back third and last disbursement today in its account amounting to $ 300 million. It will shore up forex reserves of Pakistan. AlhamdoLilah! — Ishaq Dar (@MIshaqDar50) April 14, 2023
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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