Bank of China provides $500 million loan to shore up Pakistan's foreign exchange reserves in 2009

$500K USD

Funder	Bank of China (BOC)
Recipient Organization	State Bank of Pakistan (SBP)
Country	Pakistan
Start Date	Mar 01, 2009
End Date	Jan 14, 2031
Duration	7,989 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`92403`

Grant Description

Bank of China provides $500 million loan to shore up Pakistan's foreign exchange reserves in 2009 In March 2009, Bank of China provided a $500 million deposit loan to State Bank of Pakistan (SBP) in order to shore up the country’s foreign exchange reserves.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

📋 Staff Comments

1. According to the State Bank of Pakistan Annual Report 2007-2008, ‘[a]t the end of FY08, the stock of Bank of China (BOC) deposits reached US$ 900 million, with 80.0 percent growth over the last year stock. Actually, foreign liabilities on account of BOC increased by US$ 500 in FY08, partially offset by US$ 100 million debt repayment in the first quarter of FY08.'

📚 Sources & References

FY 2009 Annual Report: Chapter 6 Domestic and External Debt
Overview of the Economy
Medium Term Debt Strategy 2013/14 - 2017/18
Pakistan’s Debt and Liabilities-Summary
Domestic and External Debt 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.