SBP receives $300 million as last disbursement from China

State Bank of Pakistan (SBP) on Friday received third and last disbursement in its account amounting to $ 300 million. The disbursement comes from a commercial loan given by China’s Industrial and Commercial Bank of China (ICBC). According to the officials of the Ministry of Finance, Pakistan has received $300 million from China. The amount has been received as a commercial loan from China’s Industrial and Commercial Bank of China (ICBC). Earlier in the day, Finance Minister Ishaq Dar had announced that the State Bank of Pakistan would receive the third and last tranche of $300 million under $1.3 billion loan programme from China. In a tweet on Friday, he said the amount is out of Chinese Bank’s approved facility of 1.3 billion dollars, which was earlier repaid by Pakistan. The minister said it will shore up forex reserves of Pakistan.
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