second disbursement
Islamabad
Pakistan on Friday received $500 million — the second disbursement of the $1.3 billion facility — from the Industrial and Commercial Bank of China (ICBC). Federal Minister for Finance and Revenue Senator Ishaq Dar announced the development on his Twitter handle. He wrote: “State Bank of Pakistan has received today in its account from Chinese Bank ICBC $500 million. It will shore up the forex reserves of Pakistan. AlhamdoLilah!” The second critical disbursement from the Chinese bank came after Pakistan completed the necessary documentation.
