During the worst economic crisis in the country, Federal Finance Minister Ishaq Dar has said that another 500 million dollars have been received from China.
The Federal Finance Minister wrote in a statement on the social networking website Twitter that the State Bank of Pakistan has received another 500 million US dollars from the Industrial and Commercial Bank of China Limited (ICBC).
In his statement, he further wrote that the amount received will increase the country’s foreign exchange reserves.
It should be noted that even earlier in his tweet on March 4, Ishaq Dar wrote that Pakistan has received $500 million of the $1.3 billion financing facility from the Industrial and Commercial Bank of China Limited (ICBC). It will help in strengthening the country’s foreign exchange reserves.
In a message on Twitter, he wrote that all formalities regarding the $1.3 billion financing have been completed and the Chinese bank has approved the rollover facility, which will be disbursed in three installments, out of which The first installment has been received by the central bank.