Dar says Asian Infrastructure Investment Bank provides $500m
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Federal Minister for Finance Ishaq Dar Tuesday said the State Bank of Pakistan (SBP) had received $500 million from the Asian Infrastructure Investment Bank (AIIB) (SBP).
According to the 24News HD TV channel, the Finance Minister declared this in his fresh tweet on Tuesday.
The Finance Minister also confirmed that the bank has provided this amount of US$500 million as Programme Finance.
Ishaq Dar said in his tweet, "AIIB has transferred today, as per their board's permission, to State Bank of Pakistan/Government of Pakistan $500 million as programme finance."
Asian Infrastructure Investment Bank (AIIB) has transferred today, as per their Board’s approval, to State Bank of Pakistan/Government of Pakistan— Ishaq Dar (@MIshaqDar50) November 29, 2022
US $ 500 million as program financing.
Pertinent to mention here that the finance minister had earlier this month stated that Pakistan would receive the money as co-financing for a development programme.
It is also worth mentioning that the Asian Development Bank (ADB) and Pakistan agreed last month to offer a policy based US$1.5 billion loan for the government of Pakistan's budgetary support, flood-related rehabilitation, and other purposes.