Bank of China provides $300 million loan to shore up the Pakistan's foreign exchange reserves in 2008
Commitment amount
$ 457375776.5847153
Adjusted commitment amount
$ 457375776.61
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
Project lifecycle
Geography
Description
In 2008, Bank of China provided a $300 million deposit loan to State Bank of Pakistan (SBP) in order to shore up the country’s foreign exchange reserves. The borrowing terms of the loan are unknown.
Additional details
1. According to the State Bank of Pakistan Annual Report 2007-2008, ‘[a]t the end of FY08, the stock of Bank of China (BOC) deposits reached US$ 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
6
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
State Bank of Pakistan (SBP) [Government Agency]
Implementing agencies [Type]
State Bank of Pakistan (SBP) [Government Agency]