China rolls over $2b loan to Pakistan for another year
Caption: Representational image.
China has rolled over a $2-billion loan to Pakistan for another year, the Ministry of Finance confirmed it on Saturday, reported 24NewsHD TV channel.
The $2-billion loan was due for return on March 24 and has been extended for one more year, the ministry said.
Beijing had communicated the decision to Islamabad, the ministrry added.
According to a statement issued by the ministry in Islamabad, the rollover of $2 billion loan by China will help in boosting Pakistan foreign exchange reserves.