Tag: ICBC
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Pakistan receives $500 million in second disbursement from Chinese bank ICBC
On Friday, Pakistan received a sum of $500 million, which is the second disbursement of the $1.3 billion facility from the Industrial and Commercial Bank of China (ICBC). Senator Ishaq Dar, the Federal Minister for Finance and Revenue, announced this development on his Twitter handle, adding that the funds will help shore up Pakistan’s forex…
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Pakistan receives $500m in first installment of $1.3 billion Chinese loan
On Friday, Pakistan’s Finance Minister Ishaq Dar announced that the Industrial and Commercial Bank of China (ICBC) has approved a facility of $1.3 billion, of which the first installment of $500 million has been received by the State Bank of Pakistan. The facility is expected to be disbursed in three installments and will help increase…