The AIIB grants $500 million to Pakistan.
The Asian Infrastructure Investment Bank delivered $500 million to the Pakistani government on Tuesday (AIIB).
The money is deposited with the State Bank of Pakistan (SBP), which claimed that by adding these, the country’s reserves will increase.
“Asian Infrastructure Investment Bank (AIIB) has transferred today, as per their Board’s permission, to State Bank of Pakistan/Government of Pakistan US $ 500 million as programme finance,” said Finance Minister Ishaq Dar on Twitter.
The credit arrangement, according to the Finance Ministry, was inked in Sharm el-Sheikh. As the money has been deposited with the central bank, the foreign exchange reserves will increase.
It is important to note that Dar stated that the AIIB had granted $500 million for Pakistan on November 9.
