Chinese Bank ICBC has approved rollover of 1.3 billion US dollar loan after completing the necessary formalities.
This was stated by the Federal Minister for Finance Ishaq Dar in a statement on social networking website Twitter on Saturday.
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In the tweet, Finance Minister Ishaq Dar said that Pakistan will receive this amount from Chinese Bank ICBC in three instalments. The first instalment of 500 million dollars has been received by the State Bank of Pakistan.
The Finance Minister further stated that the loan facility will increase forex reserves.
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