Chinese Bank approves $700m loan for Pakistan
Board
of China Development Bank (CDB) has approved a US $700 million facility for
Pakistan.
This
was confirmed by Federal Minister for Finance and Revenue, Senator Mohammad
Ishaq Dar in a tweet.
The
Minister said that the State Bank of Pakistan (SBP) was expected to receive
this amount in the ongoing week which shore up the country’s forex reserve.
The
loan is in addition to other facilities that China has already extended to
Pakistan.