China approves $700M financing for Pakistan

Islamabad: The Board of China Development Bank has approved the facility of US $700 million in financing for Pakistan.

Federal Finance minister Ishaq Dar Wednesday turned to Twitter and wrote: “This amount is expected to be received this week by State Bank of Pakistan,” adding that, it will shore up its forex reserves.

Formalities completed and Board of China Development Bank has approved the facility of US $ 700 million for Pakistan. This amount is expected to be received this week by State Bank of Pakistan which will shore up its forex reserves!

— Ishaq Dar (@MIshaqDar50) February 22, 2023