Home Business Pakistan received $ 50 million loans from Asian Development Bank

Pakistan received $ 50 million loans from Asian Development Bank

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The central bank’s reserves increased by $ 53.5 million in one week

KARACHI: Pakistan received a loan of $ 50 million from the Asian Development Bank after which the value of the total foreign exchange reserves rose to $ 15 billion 577 million.

According to a statement issued by the State Bank, Pakistan received $ 50 million from the Asian Development Bank. On August 9, the exchange rate of $ 53 million in official casualties was recorded. After that, the value of the total foreign exchange reserves reached $ 1.5 billion 577 million.

After receiving $ 50 million worth of foreign exchange casualties, the level of 8 billion 266 million dollars has crossed. While commercial banks have reserves of $ 7.3 billion.

On August 7, the Asian Development Bank approved a $ 50 million loan for Pakistan. In addition, in July, the Asian Development Bank announced in its statement that it would lend $ 10 billion to Pakistan in five years.

This amount will be a subsidized loan for Pakistan. The strategy is being drawn on a new partnership with Pakistan, while the program will continue until 2024.

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