Islamabad: (Staff Reporter) The government of Pakistan received $500 million from the Asian Infrastructure Investment Bank (AIIB). The funds are deposited with the State Bank of Pakistan (SBP) it said adding these would augment country’s reserves.
According to the tweet, Finance Minister Ishaq Dar wrote, “Asian Infrastructure Investment Bank (AIIB) has transferred today, as per their Board’s approval, to State Bank of Pakistan/Government of Pakistan
US $ 500 million as program financing.
Furthermore the loan agreement was signed in Sharm el-Sheikh. While the funds have been deposited with the central bank which will improve the foreign exchange reserves. It is pertinent to mention here that on November 9, Dar had said that the AIIB has approved $500 million for Pakistan.
