The Board of Asian Infrastructure Investment Bank (AIIB) has approved $500 million as co-financing of the Asian Development Bank (ADB) funded BRACE program for Pakistan.
Finance minister Ishaq Dar on Wednesday tweeted that AIIB has approved $500 million as co-financing of ADB funded BRACE program for Pakistan, and these Funds will be received by the State Bank of Pakistan within November 2022.”
Board of Asian Infrastructure Investment Bank (AIIB) has today approved USD 500 million as co-financing of Asian Development Bank (ADB) funded BRACE program for Pakistan.
These Funds will be received by State Bank of Pakistan within November 2022.— Ishaq Dar (@MIshaqDar50) November 9, 2022
Recently, Ishaq Dar also announced that China and Saudi Arabia will give a package of around $13 billion to Pakistan.
Sources said that the government is optimistic that Saudi Arabia and China will roll over $12 billion for another month while the government is negotiating with the multilateral institutions for another $1 billion dollar.
The SBP had earlier received $1.5 billion from ADB on October 26, 2022, as a disbursement of a loan for the government of Pakistan.
