China provides financial support to Pakistan

The State Bank of Pakistan announced Friday night that it has received a 15 billion yuan (about $2.3 billion) loan from the China Banking Association to support the country’s foreign exchange reserves and stabilize the rupee.

This was announced by the Minister of Finance and Revenue of Pakistan, Muftah Ismail, on his Twitter page. “I am pleased to announce that a loan from a Chinese consortium of 15 billion yuan (about $2.3 billion) was transferred on Friday to an account at the State Bank of Pakistan, increasing the size of our foreign exchange reserves.”

Source: TASS

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