LAHORE MIRROR — China announced refinancing $1 billion loan in Pakistan, the State Bank of Pakistan (SBP) confirmed late on Friday.
The news of the refinancing comes hours after Finance Minister Ishaq Dar informed the National Assembly’s Standing Committee on Finance and Revenue that China would be refinancing the $1 billion loan it had given to Pakistan earlier.
“$1 billion will come from China today or on Monday,” Dar had told the lawmakers. He also said that talks are ongoing with the Bank of China for a loan of $300 million. He added that Pakistan would also receive dollars under China’s swap agreement.
