China’s EXIM Bank has rolled over principal payments of loans worth $2.4 billion that will be due in the coming two fiscal years, announced Finance Minister Ishaq Dar on Thursday.
China’s “EXIM Bank has rolled over for 2 years principal amounts of following loans totalling $2.4 billion which are due in next 2 fiscal years i.e. FY2023-24: $1.2 billion; FY2024-25: $1.2 billion,” said Dar on Twitter.
Chinese EXIM Bank has rolled over for 2 years principal amounts of following loans totalling US$ 2.4 billion which are due in next 2 fiscal years:
FY2023-24: US$1.2 billion
FY2024-25: US$ 1.2 billionPakistan will make interest payments only in both years.
— Ishaq Dar (@MIshaqDar50) July 27, 2023
“Pakistan will make interest payments only in both years,” he added.
Earlier this month, at the launch ceremony of the ‘Youth Sports Initiative’ in Islamabad, Prime Minister Shehbaz Sharif had also said that China’s Exim Bank has rolled over a $600-million loan.
“I was told not to use the name, but I really want to express my gratitude to our friend,” said PM Shehbaz back then. “Our reserves have increased after China’s Exim Bank rolled over the $600 million loan yesterday.
