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

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.

Formalities completed & Chinese Bank, ICBC approved rollover of US$1.3 billion facility which has been repaid by Pakistan to ICBC in recent months. Facility will be disbursed in 3 instalments, first one of US$500 million has been received by SBP. It will increase forex reserves!

— Ishaq Dar (@MIshaqDar50) March 3, 2023