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China approves rollover of US$1.3 billion facility repaid by Pakistan: Ishaq Dar

China approves rollover of US$1.3 billion facility repaid by Pakistan: Ishaq Dar
March 4, 2023 Web Desk

I - Finance Minister Ishaq Dar has said that formalities have been completed and Industrial and Commercial Bank of China (ICBC) approved rollover of US$1.3 billion facility which has been repaid by Pakistan to the bank in recent months.

In a message on Twitter on Friday, he said that the facility will be disbursed in three installments and the first one of US$500 million has been received by the State Bank of Pakistan (SBP). "It will increase forex reserves," he added.