Chinese consortium to provide $2.3bn to Pakistan

Islamabad: Finance Minister Miftah Ismail on Wednesday said that the Chinese consortium will provide $2.3 billion to Pakistan.

In a statement on the social networking site Twitter, Miftah Ismail said that the Chinese consortium of banks has signed the RMB 15 billion ($2.3 billion) loan facility agreement today, after it was signed by the Pakistani side yesterday. “Inflow is expected within a couple of days,” he added.

In his tweet, Miftah further thanked the Chinese government for facilitating this transaction.

Later, Foreign Minister Bilawal Bhutto Zardari expressed gratitude to the Chinese leadership and the people of China for the RMB 15 billion loan facility agreement signed by the Chinese consortium of banks and the Pakistan side.

On his Twitter handle, the foreign minister expressed gratitude to Chinese President Xi Jinping, his Chinese counterpart Wang Yi and the people of China for their continued support. The people of Pakistan were grateful for the continued support of their all-weather friend.