Islamabad: Pakistan and Chinese banks have agreed on conditions and procedure of re-financing of 2. 3 billion dollars.
Finance Minister Miftah Ismael confirmed the development regarding refinancing of billions of dollars on his twitter handle today.
Good News: 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. This will help shore up our foreign exchange reserves.
— Miftah Ismail (@MiftahIsmail) June 2, 2022
The finance minister giving the nation good news said that we have agreed on conditions and procedures for refinancing of 2. 3 billion dollars with the Chinese banks.
Miftah Ismail apprised further that the refinancing will help increase our foreign exchange reserves
He said that it is expected that financial agreement will come to implement after tiny approvals from both the sides.
