China Assures Pakistan Of $3.7 Billion Loan In Commercial Loans Before June-End

China will lend Pakistan $3.7 billion in Chinese currency by the end of June. This will be the largest foreign loan that Pakistan will receive. This move will help Pakistan keep its foreign exchange reserves strong, which will be short-lived, as it already has a lot of debt maturing in June - and Pakistan has to pay it back.

China to roll over $3.7 billion to Pakistan

China has agreed to roll over $3.7 billion in loans to Pakistan by June 2025, providing crucial financial support ahead of the country’s debt maturities. The total includes $2.4 billion due next month and another $1.3 billion previously repaid by Pakistan to the Industrial and Commercial Bank of China (ICBC) during March and April. These yuan-denominated loans are expected to strengthen the State Bank of Pakistan’s foreign exchange reserves whil…

China Assures Pakistan Of $3.7 Billion Loan In Commercial Loans Before June-End

China has assured Pakistan of re-lending $3.7 billion in commercial loans, denominated in Chinese currency, before the end of June, in a move that will help keep the foreign exchange reserves in double digits, according to a media report on Wednesday.Unlike in the past, when Beijing has given loans in non-Chinese currency too, this time Pakistan’s strategic ally has decided not to give loans in the United States currency as part of its drive to …