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ISLAMABAD: China’s Federal Finance Minister Ishaq Dar said that the China Development Bank has allocated $700 for Pakistan. Finance Minister Ishaq Dar said in a tweet that the China Development Bank has completed all the usual procedures for disbursing $700 million to Pakistan. The money is expected to arrive from China this week. Ishaq Dor said that the State Bank is expected to bring in 700 million dollars this week, after which the bank’s foreign exchange reserves will increase. The agreement between Pakistan and China Development Bank was finalized last week. The development comes days before China is due to pay off another $300 million in trade debt.
