Another $500M From Chinese Bank To Be Received Soon: Ishaq Dar

ISLAMABAD: (HRNW) The Ministry of Finance has completed documentation for the second disbursement of $500 million from the Industrial and Commercial Bank of China (ICBC), Federal Minister for Finance Ishaq Dar said on Thursday.

“Out of Chinese ICBC’s approved rollover facility of US$1.3 billion (which was earlier repaid by Pakistan to ICBC in recent months), documentation for second disbursement of US$500 million has been completed by Finance Ministry for release of funds to the State Bank of Pakistan,” he said in a Tweet.

Earlier this month, Pakistan received $500 million from the Industrial and Commercial Bank of China Ltd (ICBC).

The friendly country has extended the tranche after Islamabad fulfilled almost all the tough conditions for the revival of the IMF loan programme.