Pakistan received $300 million from China.

 After Pakistan received $300 million from China, the foreign exchange reserves were raised.

 

According to reports cited by ARY News on Friday, Pakistan got $300 million from China, increasing the nation's foreign exchange reserves. The Industrial and Commercial Bank of China (ICBC) has made its third and final distribution of $300 million to the State Bank of Pakistan (SBP). The Chinese bank has so far loaned the central bank $1.3 billion.

 

 

ICBC would return the SBP its third and last payout of $300 million today, according to a tweet from Finance Minister Ishaq Dar earlier in the day. He said that the sum comes from a 1.3 billion dollar loan granted by the Chinese Bank and previously reimbursed by Pakistan.

 

The Pakistani foreign reserves would be strengthened, according to the finance minister. Dar stated today in a different tweet that the United Arab Emirates (UAE) has informed the International Monetary Fund (IMF) that it will support Pakistan with $1 billion.

"UAE authorities have confirmed to IMF for their bilateral support of US $1 billion to Pakistan," Dar stated in a tweet today.

 

Ishaq Dar continued by saying that the State Bank of Pakistan (SBP) was currently "engaged for the necessary documentation for taking the said deposit from UAE authorities." The action will make it possible for Pakistan to access the $1.1 billion IMF loan tranche that has been withheld for months to support the faltering national economy.

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