Pakistan Reaches $2.3 Billion Refinancing Agreement With Chinese Banks

On Thursday, Finance Minister Miftah Ismail said that the terms and conditions for refinancing of $2.3 billion deposit by Chinese banks (about RMB 15 billion) have been agreed.

“The terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about US$ 2.3 billion) have been agreed. Inflow is expected shortly after some routine approvals from both sides,” the finance minister said in a tweet.

https://twitter.com/MiftahIsmail/status/1532345648137531393?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1532345648137531393%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fpropakistani.pk%2F2022%2F06%2F02%2Fpakistan-agrees-2-3-billion-refinancing-agreement-with-chinese-banks%2F

The minister added that the inflow will help shore up the foreign exchange reserves.