ISLAMABAD: The State Bank of Pakistan and Bank of China have signed an agreement, as per which China has agreed to loan $2.1 billion to Pakistan.
Pakistan’s foreign exchange reserves will increase to $17 billion after a massive Chinese funds transfer to State Bank of Pakistan next week.
According to sources in Finance Ministry, they said that the amount will be transferred to the State Bank of Pakistan on 25th March, 2019 (Monday).
All the relevant paperwork has been completed in this regard, the sources added.
The expected financial support signals strengthening economic ties between China and Pakistan.