Completed Development AidData Chinese Aid

ICBC provides $300 million loan in 2017 to shore up Pakistan’s foreign exchange reserves (Linked to Record ID#54158 and #54159)

$300M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	State Bank of Pakistan (SBP)
Country	Pakistan
Start Date	Jan 17, 2017
End Date	Jul 05, 2029
Duration	4,552 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`50486`

Grant Description

ICBC provides $300 million loan in 2017 to shore up Pakistan’s foreign exchange reserves On January 17, 2017, the Industrial and Commercial Bank of China (ICBC) and the State Bank of Pakistan signed a $300 million loan (facility) agreement to shore up Pakistan’s foreign exchange reserves and improve macroeconomic conditions.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following borrowing terms: an interest rate of 3-month LIBOR (1

📅 Maturity2 years

⏳ Grace Period2 years

The loan fully disbursed.

📋 Staff Comments

The loan was ‘closed’ on January 31, 2017; however it is unknown when the loan was disbursed.
Two other facility agreements were signed with Chinese banks in 2017 to help Pakistan with its balance of payments (as captured via Project ID#54158 and #54159).
For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.

📚 Sources & References

Pakistan to Get $4.6 Billion in New Foreign Loans
Pakistan gets $4.6b in fresh foreign loans
MONTHLY DISBURSEMENT REPORT OF FOREIGN ECONOMIC ASSISTANCE FOR THE MONTH OF JANUARY, 2016-17
China leads with 75% share in total foreign loans
中国向巴基斯坦提供35亿美元贷款和补助金, 2018-2019 Pakistan Economic Survey: Statistical Supplement, 2019-2020 Pakistan Economic Survey, 2017-18 Pakistan Economic Survey
Year Book 2016-2017
MONTHLY DISBURSEMENT REPORT OF FOREIGN ECONOMIC ASSISTANCE FOR THE MONTH OF JUNE, 2016-17
Final PCP Year Book
Final PCP Year Book
Pakistan Development Update Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.