Islamabad: The State Bank of Pakistan (SBP) on Tuesday announced that Pakistan had received over USD 505.5 million from the World Bank (WB) in a soft loan arrangement, according to news sources.
As per the official reports, the global lender has offered the loan at a concessional rate as budgetary support — mainly for the healthcare and socioeconomic sectors. This inflow has enhanced the SBP’s foreign reserves to over USD 12.5 billion.
The loan has assisted the national currency to appreciate in comparison to the US dollar. The national exchequer is expected to receive another USD 250 million in loan from the Asian Infrastructure Investment Bank (AIIB). The international lenders have extended these finances under their Resilient Institutions for Sustainable Economy (RISE) initiative and development of policy financing.
Moreover, these finances will also enhance the policy and institutional framework to improve the financial management and regulatory framework of Pakistan.
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