Project ID: 92403

Bank of China provides $500 million loan to shore up Pakistan's foreign exchange reserves in 2009

Commitment amount

$ 751005024.1373961

Adjusted commitment amount

$ 751005024.1

Constant 2021 USD

Summary

Funding agency [Type]

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

Recipient

Pakistan

Sector

General budget support (Code: 510)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

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

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2009-03-01

Geography

Description

In March 2009, Bank of China provided a $500 million deposit loan to State Bank of Pakistan (SBP) in order to shore up the country’s foreign exchange reserves. The borrowing terms of the loan are unknown.

Additional details

1. According to the State Bank of Pakistan Annual Report 2007-2008, ‘[a]t the end of FY08, the stock of Bank of China (BOC) deposits reached US$ 900 million, with 80.0 percent growth over the last year stock. Actually, foreign liabilities on account of BOC increased by US$ 500 in FY08, partially offset by US$ 100 million debt repayment in the first quarter of FY08.'

Number of official sources

4

Number of total sources

5

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

State Bank of Pakistan (SBP) [Government Agency]

Implementing agencies [Type]

State Bank of Pakistan (SBP) [Government Agency]

Loan Details

Bilateral loan

Foreign currency swap or Balance of payments loan

Inter-bank loan

Rescue loan