Overview

Bank of China provides $200 million loan in FY 2017-2018 to shore up Pakistan’s foreign exchange reserves

Commitments (Constant USD, 2023)$212,825,276

Commitment Year•2017Country of Activity•PakistanDirect Recipient Country of Incorporation•PakistanSector•General Budget SupportFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 1, 2017

First repayment (originally scheduled): Jun 30, 2020

Last repayment (originally scheduled): Jun 30, 2020

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

Bank of China provides $200 million loan in FY 2017-2018 to shore up Pakistan’s foreign exchange reserves. More detailed locational information can be found at: https://www.openstreetmap.org/way/758630714

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Government Agencies

State Bank of Pakistan (SBP)

Loan description

Bank of China provides $200 million loan in FY 2017-2018 to shore up Pakistan’s foreign exchange reserves

Grace period•3 yearsGrant element•16.4637%Interest rate (t₀)•3.29917%Interest type•Variable Interest RateLoan tenor•3-month rateMaturity•3 years

Narrative

Full Description

Project narrative

In Fiscal Year 2017-2018, Bank of China provided a $200 million loan to the State Bank of Pakistan to shore up the country’s foreign exchange reserves. This loan carried the following borrowing terms: a 3 year maturity, a 3 year grace period, and an interest rate of 3-month LIBOR (2.307%) plus a 2% margin.

Staff comments

1. The precise loan commitment date is unknown. This issue requires further investigation. For the time being, AidData assumed that the loan contracted in Fiscal Year 2017-2018 was contracted in calendar year 2017, and the commitment date is coded as July 1, 2017. 2. The all-in interest rate was calculated by adding 2% to the average, 3-month LIBOR rate in 2018 (2.307%).