State Bank of Pakistan receives $2.3 billion loan from China
ISLAMABAD – The country's central bank has received an amount of $2.3 billion as loan from China, Finance Minister Miftah Ismail announced on Friday.
Miftah took to Twitter to announce the receipt that is "increasing our foreign exchange reserves,"
I am pleased to announce that Chinese consortium loan of RMB 15 billion (roughly $2.3 billion) has been credited into SBP account today, increasing our foreign exchange reserves.— Miftah Ismail (@MiftahIsmail) June 24, 2022
Earlier this week, the minister confirmed that the Chinese consortium of banks has signed the RMB 15 billion (~$2.3 billion) loan facility agreement after it was signed by the Pakistani side.
While thanking the Chinese government for facilitating this transaction, he had hoped of inflow within a couple of days.
The Chinese consortium of banks has today signed the RMB 15 billion (~$2.3 billion) loan facility agreement after it was signed by the Pakistani side yesterday. Inflow is expected within a couple of days. We thank the Chinese government for facilitating this transaction.— Miftah Ismail (@MiftahIsmail) June 22, 2022
Soon after a broader agreement on budget 2022-23 between Pakistan and the IMF [International Monetary Fund], China made this loan facility available for Pakistan.
China inks $2.3bn refinancing agreement with ... 06:52 PM | 22 Jun, 2022
ISLAMABAD – Pakistan has inked a $2.3 billion loan facility agreement with a Chinese consortium of banks amid ...
- Amazon suspends thousands of Pakistani sellers’ accounts12:47 PM | 15 Aug, 2022
- Mufti Taqi Usmani slams dancing performance at official Independence ...12:28 PM | 15 Aug, 2022
- Pakistan’s Covid-19 positivity ratio drops to 2.54%11:47 AM | 15 Aug, 2022
- Watch: Pakistan’s first indigenous electric car unveiled in Karachi11:28 AM | 15 Aug, 2022
- Famed ‘Fiza-Shiza’ actor Kiran Tabier welcomes first child09:16 AM | 15 Aug, 2022
- Saboor Aly wins hearts with stunning photos in bridal outfit07:06 PM | 14 Aug, 2022
- Faiza Khan pays tribute to legendary Nazia Hassan with a sweet video09:41 PM | 14 Aug, 2022
- Pakistan ranks second worst on gender inequality10:55 PM | 13 Jul, 2022
- Pakistani celebrities who are performing Hajj 202210:16 PM | 5 Jul, 2022
- Films releasing in Pakistan on Eidul Adha 202211:51 PM | 5 Jul, 2022
- Pakistan’s largest city Karachi still among world’s least ...06:26 PM | 23 Jun, 2022