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Pakistan has received $500 million from a Chinese bank as part of the $1.3 re-financing facility, Minister for Finance and Revenue Senator Ishaq Dar said Friday, as the nation grapples with one of its worst economic crises.
The second critical disbursement from the Industrial and Commercial Bank of China (ICBC) came after Pakistan completed the necessary documentation.
“State Bank of Pakistan has received today in its account from Chinese Bank ICBC US $ 500 million. It will shore up forex reserves of Pakistan. AlhamdoLilah!” the finance minister wrote on his Twitter handle.
More to follow…
