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Pakistan receives $500 million from AIIB – Business

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Pakistan receives $500 million from the AIIB.

November 29, 2022

14:28

ISLAMABAD (Dunya News) – The government of Pakistan on Tuesday received $500 million from the Asian Infrastructure Investment Bank (AIIB).

Funds deposited with National Bank of Pakistan (SBP) said the addition of this would increase the country’s reserves.

On Twitter, Finance Minister Ishak Dar wrote: “The Asian Infrastructure Investment Bank (AIIB) today, with the approval of their Council, handed over to the State Bank of Pakistan/Government of Pakistan
US$500 million as program financing”.

The Ministry of Finance reported that the loan agreement was signed in Sharm El Sheikh. While the funds are credited with Central bankthat will improve foreign exchange reserves.

It is appropriate to mention here that on On November 9, Dar reported that the AIIB had approved $500 million. for Pakistan.

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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