ICBC provides $300 million loan to shore up Pakistan’s foreign exchange reserves (Linked to Record ID#57695)

📋 Staff Comments

1. The Economic Affairs Division (EAD) within Pakistan’s Ministry of Finance identifies the purpose of the loan as balance of payments (BOP) support.
2. 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.
3. The loan's grace period (2-years) was voluntarily disclosed by the Government of Pakistan to the World Bank through the Debtor Reporting System (DRS). See https://www.dropbox.com/scl/fi/lqz34vowelgczylbmjlz0/Private-Chinese-Loans-to-Pakistan-November-2023-DRS-Extraction.xlsx?rlkey=jlclkt896s9otfcgx5eywl5cc&dl=0

📚 Sources & References

• 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, 2019-2020 Pakistan Economic Survey, 2018-2019 Pakistan Economic Survey: Statistical Supplement
• Status Report July-June 2018-19 on 21-August-2019
• July-March 2019: $3.147 billion borrowed from foreign banks, (295th Session) SENATE SECRETARIAT 'QUESTIONS FOR ORAL ANSWERS AND THEIR REPLIES' to be asked at a sitting of the Senate to be held on Friday, the 17th January, 2020
• Statistical Supplement: Pakistan Economic Survey
• SENATE SECRETARIAT ————— “QUESTIONS FOR ORAL ANSWERS AND THEIR REPLIES” to be asked at a sitting of the Senate to be held on Friday, the 17th January, 2020 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.