Dar hails receipt of $500m Chinese bank loan

Our Correspondent
Saturday, Mar 18, 2023

ISLAMABAD: Finance Minister Ishaq Dar said Friday that the State Bank of Pakistan had received a $500 million commercial loan in the form of refinancing from ICBC.

It would shore up Pakistan’s forex reserves. “AlhamdoLilah,” Ishaq Dar stated in a tweet on Friday. Now the foreign exchange reserves held by the SBP would go up to $4.8 billion, up from $4.3 billion last week.