The government of Pakistan and the People’s Republic of China have strong economic ties spanning the last many decades. The ongoing financing facilities include SAFE deposits, bilateral as well as commercial loans.
To buttress the efforts of economic stabilization Government of Pakistan has been in communication with the Chinese authorities for the roll-over/refinancing of all ongoing facilities upon their maturity.
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Two facilities worth USD 4.3 bn matured in the month of March, of which SAFE deposits worth USD 2 billion have been rolled over and the roll-over of the syndicated facility of RMB 15,000 million (i.e., approximately USD 2.3 bn) is being processed.
These facilities are being used for the balance of payments and budgetary support.