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Chinese Bank approves rollover of $1.3bln loan for Pakistan: Dar

Islamabad: Finance Minister Ishaq Dar has announced that the Chinese Bank ICBC has approved the rollover of a 1.3 billion US dollar loan after all necessary formalities have been completed.

The minister stated in a tweet tonight that Pakistan will receive this amount in three installments. The first installment of $500 million has been received by the State Bank of Pakistan.

He stated that the loan facility will increase foreign exchange reserves.

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