Dar says Asian Infrastructure Investment Bank provides $500m 

By: News Desk
Published: 05:23 PM, 29 Nov, 2022
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."

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.