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According to Finance Minister Pakistan has received a significant amount from its closest friend and it will help to stabilize the economy.
State Bank of Pakistan receives 4700m from the Chinese Development Bank which would give an immediate boost to their strangling economy. It will also help to surge forex reserves as the country confronts the worse economic crisis of all time.
AlhamdoLilah!
Funds $ 700 million received today by State Bank of Pakistan from China Development Bank. https://t.co/7eLwWkSFgO
— Ishaq Dar (@MIshaqDar50) February 24, 2023
Dar announces this on Twitter about the latest development and said the loan would “shore up”. Before this aid, the country’s reserve slipped to an alarmingly low level.
