In major boost to reserves, Pakistan 'receives' $700m from China bank

In major boost to reserves, Pakistan ‘receives’ $700m from China bank

Posted on February 24, 2023

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US one hundred dollar notes are seen in this picture illustration taken on February 7, 2011. — Reuter
US one hundred dollar notes are seen in this picture illustration taken on February 7, 2011. — Reuter 

ISLAMABAD: In a positive development, the State Bank of Pakistan-held (SBP) foreign exchange reserves registered a major boost on Friday as the nation received $700 million from the China Development Bank (CDB), following the institution’s board approving the facility.

More to follow…

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