Karachi: The State Bank of Pakistan (SBP) on Tuesday announced receiving USD 1.3 billion – in Government of Pakistan (GoP) loan disbursements – from Chinese banks which have resulted in boosting its cash inflow, according to news sources.
This loan from Chinese Banks has brought the total volume of the SBP’s official inflows (received since June 23) to a high sum of over USD 3 billion, read the official statement issued by the central bank on Twitter.
Previously, on June 4, the SBP had received USD 1 billion and USD 500 million from the World Bank and Asian Development Bank, respectively – delivered to help the country battle its local novel coronavirus outbreak, as well as its fresh bout of economic uncertainties. The latter bolus comes as part of the ADB COVID-19 Active Response and Expenditures Support (CARES) initiative.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
