China rolls over $2.4 billion loan with Pakistan for two years to strengthen Islamabad’s foreign reserves

EXIM Bank of China has rolled over its loan of $2.4 billion with Pakistan for two years to strengthen Islamabad’s foreign reserves. The announcement was made by Finance Minister Ishaq Dar on his Twitter handle. According to ARY News, the federal government has revised the terms and conditions for the debt rollover. Pakistan is also exempted from paying additional interest on the loan.

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Dar in his tweet said that Chinese EXIM Bank has rolled over the loan of US$ 2.4 billion for two years including US$1.2 billion due in FY2023-24 and US$1.2 billion in FY2024-25: US$ 1.2 billion.