300 million dollars tranche from Chinese bank soon, claims Dar
Finance and Revenue Minister said installment of 300 million dollars from ICBC will be received by State Bank today, which will increase foreign exchange reserves
Federal Finance Minister Ishaq Dar said final installment of 3 billion dollars approved by Chinese bank ICBC will be received today.
Finance and Revenue Minister Ishaq Dar has said that the installment of 300 million dollars from ICBC will be received by the State Bank today, which will increase the foreign exchange reserves.
In a message on the social networking site Twitter, the Federal Finance Minister said that the last installment of 300 million dollars from the Chinese Commercial Bank will be received by the State Bank 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
He said that foreign exchange reserves will increase by receiving tranche of $300 million from Chinese Commercial Bank, tranche approved by China’s ICBC Bank.
According to Finance Minister Ishaq, a total of 1.3 billion dollars in financing has been approved by Chinese bank ICBC, which will increase Pakistan’s foreign exchange reserves.
IMF program — 9th Review Update:
UAE authorities have confirmed to IMF for their bilateral support of US $ One billion to Pakistan.
State Bank of Pakistan is now engaged for needful documentation for taking the said deposit from UAE authorities.
AlhamdoLilah!
— Ishaq Dar (@MIshaqDar50) April 14, 2023
Ishaq Dar has said in another Twitter post that the United Arab Emirates authorities have confirmed a bilateral aid of one billion dollars to the IMF for Pakistan.
The State Bank of Pakistan is now busy with the UAE authorities for the necessary documents to take the said deposit.
