The State Bank of Pakistan (SBP) Thursday received $500 million from Asian Development Bank (ADB) as proceeds of a loan to the Government of Pakistan for Climate Change and Disaster Resilience Enhancement Program (CDREP).
In a statement, the central bank said these proceeds will be reflected in SBP’s foreign exchange reserves for the week ending on November 29, 2024, to be published on December 5, 2024.
The funds will further strengthen the reserves held by the central bank that currently stand at $11.419 billion as of November 22, 2024.
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