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Tag Archives: ICBC

Pakistan to get $300mn from ICBC today: Dar

April,14 (A. E Report)——Finance Minister Ishaq Dar told of getting $300m on Friday from the Industrial and Commercial Bank of China(ICBC), the last of three disbursements,.“Out of Chinese Bank’s ICBC approved facility of $1.3 billion (which was earlier repaid by Pakistan). State Bank of Pakistan (SBP) would receive back third and last disbursement today in its account amounting to $300 million,” said Dar on Twiter. This will “shore up forex reserves of Pakistan,” he added.China last month rolled over a $2-billion loan, providing relief during Pakistan’s acute balance of payments crisis.Of the $1.3 billion, the ICBC gave Pakistan the first tranche of $500 million on March 4 while the second disbursement, also of $500 ...

April 14, 2023 at 4:56 pm | Economic Affairs