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China To Submit $2.1b In State Bank Of Pakistan By Monday

Iftikhar Alam (@imiftikharalam) Published March 21, 2019 | 11:26 PM

China to submit $2.1b in State Bank of Pakistan by Monday

The finance ministry stated that the entire procedure and documentation between China and Pakistan regarding loan were completed.

ISLAMABAD- (UrduPoint / Pakistan Point News- 21st March, 2019) Pakistan will receive $2.1 billion loan from China by Monday, announced Finance Minister on Thursday.

The ministry stated that the entire procedure and documentation between China and Pakistan regarding loan were completed. It added that State Bank of Pakistan will receive the loan worth 15 billion Yuan the in next four days.

The government claimed that foreign exchange reserves and balance of payment stability will strengthen after the loans.

China had extended its cooperation to strengthen Pakistan’s reserves during Prime Minister Imran Khan’s visit to Beijing.

Finance Minister Asad Umar said the country’s economy was improving and it did not need now to surrender before the tough condition of the IMF to receive loans.

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