Pakistan signs $2.3-bn loan facility agreement with China

23.06.2022

Pakistan on Wednesday signed a 15 billion yuan (USD 2.3 billion) loan facility agreement with a Chinese consortium of banks to help the country's cash-strapped economy in the wake of depleting foreign exchange reserves and depreciation of its local currency.

Pakistan Finance Minister Miftah Ismail in a tweet said that the "Chinese consortium of banks...