Completed Development AidData Chinese Aid

Bank of China provides $300 million loan to shore up Pakistan’s foreign exchange reserves in June 2020 (Linked to Record ID#97898)

$300M USD

Funder	Bank of China (BOC)
Recipient Organization	State Bank of Pakistan (SBP)
Country	Pakistan
Start Date	Jun 30, 2020
End Date	May 15, 2027
Duration	2,510 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`97792`

Grant Description

Bank of China provides $300 million loan to shore up Pakistan’s foreign exchange reserves in June 2020 In June 2020, Bank of China provided a $300 million loan to the State Bank of Pakistan to shore up the country’s foreign exchange reserves (as captured via Record ID#97792).

📋 Loan / Grant Terms

💰 Loan Amountincluded a 3 year maturity (final maturity date: June 2023)

📅 Maturity3 years

⏳ Grace Period3 years

The loan was repaid in full on June 26, 2023.

Shortly thereafter (on or before June 30, 2023), Bank of China and the State Bank of Pakistan signed a $300 million rollover loan agreement to shore up the country’s foreign exchange reserves (as captured via Record ID#97898).

📋 Loan / Grant Terms

💰 Loan Amountcarried a 2-year maturity and an interest rate of SOFR plus a 2% margin

📅 Maturity2 years

📋 Staff Comments

1. 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

China Continues to Rescue Pakistan Amid Uncertain IMF Bailout
Pakistan Economic Survey 22-23
China Keeps Rescuing Pakistan Amid Uncertain IMF Bailout
China to roll over $300m in three to four days: Dar
China returns $1 billion loan: SBP
Pakistan seeks fast-track refinancing of $1.3b loans
Dar hopes to maintain reserves level at $4b
Chapter 5 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.