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[Umbrella] China provides a series of Safe Deposit loans to Pakistan (linked to Record ID#s #73341, #73342, #73343, #72595, #73344, #92087, #97848 and #97849)
| Funder | People's Bank of China (PBC) |
|---|---|
| Recipient Organization | Government of Pakistan |
| Country | Pakistan |
| Start Date | Jan 01, 2009 |
| End Date | Dec 02, 2032 |
| Duration | 8,736 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73340 |
Grant Description
[Umbrella] China provides a series of Safe Deposit loans to Pakistan Beginning in January of 2009 and continuing to the present, China has provided a series of loans to Pakistan for general budgetary support.
The People's Bank of China (PBC) has provided these loans by way of the State Administration of Foreign Exchange (SAFE).
These loans are marked in Pakistani reports as "China SAFE deposits." Four of these loans have been provided and disbursed, all in US dollars: $500 Million in January 2009, recorded in Record ID#73341 $500 Million in June 2012, recorded in Record ID#73342 $500 Million in 2018, recorded in Record ID#72595 $2 billion in July 2018, recorded in Record ID#73343 $2 billion in March 2019, recorded in Record ID#92087 $2 billion in March 2020, recorded in Record ID#97848 $1 billion in July 2020, recorded in Record ID#73344 $2 billion in March 2021, recorded in Record ID#97849 Until 2018, all SAFE loans were managed by the State Bank of Pakistan (SBP).
However, during the 2018-2019 fiscal year, the loans were reclassified and are now under the aegis of the Economic Affairs Division (EAD).
Sources & References
- Pakistan borrows $500 million from China to shore up its reserves
- Pakistan Economic Survey 2018-19
- Pakistan borrows $500 million from China
- China to roll over $500m loan to shore up Pakistan's reserves
- Status Report July-June 2018-19
- Pakistan Economic Affairs Division
- Monthly Bulletin Foreign Economic Assistance Sep 2020
- Domestic External Debt
- November 2017
- May 2011 Statistical Review
- HE STATE OF PAKISTAN’S ECONOMY - Third Quarterly Report for the year 2017-18
- Pakistan Secures $1 Billion SAFE Deposit Deal With China
- SBP Annual Report-Statistical Supplement FY 17
- Govt shifts China’s $2 bn SAFE deposit to loan category
- Did Pakistan borrow $500 million from ICBC to repay old Chinese loan?
- State Bank of Pakistan
- Revision Study on External Debt Statistics, 03 September 2012
- Pakistan borrows another $500m from Chinese bank
- China to roll over $500 million loan to Pakistan’s central bank for its foreign currency reserves 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.
All Grantees
Government of Pakistan
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