Chinese Bank Sends $500 Million to Pakistan

The Industrial and Commercial Bank of China (ICBC) gave the State Bank of Pakistan (SBP) $500 million on Friday, bringing the total amount of reserves held by the government-run institution to over $4 billion.

Finance Minister Ishaq Dar made the announcement on Twitter, stating that the bank had approved the rollover of the $1.3 billion facility that Pakistan had recently repaid to ICBC.

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