Project ID: 35126

Bank of China provides US$500 million to Pakistan for balance of payment obligations

Commitment amount

$ 1091280960.0

Constant 2017 USD

Summary

Funding agency [Type]

Bank of China (BOC) [State-owned Commercial Bank]

Recipient

Pakistan

Sector

General budget support (Code: 510)

Flow type

Loan

Concessional

Vague

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2001

Description

In the 2001 fiscal year, the Pakistani government needed to generate US$3.58 billion to plug the resource gap in the external finance sector. According to an official in the Ministry of Finance, the resource gap would mainly be bridged by rolling over different existing loans and credits currently deposited with the State Bank of Pakistan (SBP). A sum of US$500 million had been received by the Bank of China as a rollover facility to be utilised for balance of payment obligations. Additionally, US$250 million has been provided by the government of Kuwait, US$300 million by the government of United Arab Emirates.

Number of official sources

1

Number of unofficial sources

1

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Government of Pakistan [Government Agency]

Loan type

No Information

Gurarantee provided

No

Insurance provided

No