Islamabad March 17 2023: Pakistan central bank received USD 500 million from Chinese Bank ICBC, according to finance minister.
“State Bank of Pakistan has received today in its account from Chinese Bank ICBC USD 500 million. It will shore up forex reserves of Pakistan” says Pakistan Finance Minister Ishaq Dar.
Out of Chinese ICBC’s approved rollover facility of US$1.3 billion, which was earlier repaid by Pakistan to ICBC in recent months, country has received USD 1 billion, while USD 300 million is still pending.
SBP foreign exchange reserves for the week ending March 10th, 2023, were up by USD 18 million for the fifth consecutive week to USD 4.3 billion, as per data released by the Central Bank on Thursday.
