Pakistan Gets $2.2 Billion from China

Pakistan has received an amount of RMB 15 billion on the account of loan proceeds from China, which is equivalent to $2.2 billion, a statement of State Bank of Pakistan confirmed.

With the inflows of this amount, the foreign exchange reserves of the country increased to $17.9 billion.

Last week, the country’s foreign exchange reserves surged to $15.7 billion after receiving inflows of $1 billion from the United Arab Emirates on the account of cash financial support.

According to the data of SBP, the total liquid foreign reserves held by the central bank increased to over $10 billion. The commercial banks have also maintained foreign exchange reserves of $6.870 billion.

Pakistan is likely to receive a tranche of $1 billion from Abu Dhabi Fund for Development on the account of deposits, soon.