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Bank of China provides $200 million loan to shore up Pakistan’s foreign exchange reserves in November 2019
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | State Bank of Pakistan (SBP) |
| Country | Pakistan |
| Start Date | Nov 01, 2019 |
| End Date | Sep 12, 2031 |
| Duration | 4,333 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 92085 |
Grant Description
Bank of China provides $200 million loan to shore up Pakistan’s foreign exchange reserves in November 2019 In November 2019, Bank of China provided a $200 million loan to the State Bank of Pakistan to shore up the country’s foreign exchange reserves (as captured via Record ID#92085).
The loan was repaid in full in November 2022. However, it is unclear if the borrower ever secured a maturity extension through a debt rescheduling agreement.
Then, in November 2022, Bank of China and the State Bank of Pakistan signed a $200 million rollover loan agreement to shore up the country’s foreign exchange reserves.
It fully disbursed in November 2022 and was reportedly used by the borrower to repay a $1 billion Sukuk bond in December 2022.
Staff Comments
- 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.
- The borrowing terms of the loan are drawn from https://www.finance.gov.pk/survey/chapters_23/Economic_Survey_2022_23.pdf
Sources & References
- Statistical Supplement to the Pakistan Economic Survey 2019-2020, 2018-2019 Pakistan Economic Survey: Statistical Supplement
- Satistical Supplement Pakistan Economic Survey 2019-2020
- Monthly Bulletin Foreign Economic Assistance June 2020
- Annual Report 2020-2021 The State of Pakistan's Economy
- Statistical Supplement: Pakistan Economic Survey, (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
- Financing, urea sought from China 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
State Bank of Pakistan (SBP)
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