Pakistan to receive $3 billion deposits from two different sources: Report

Pakistan to receive $3 billion deposits from two different sources: Report
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*ISLAMABAD: Pakistan is expected to receive $3 billion deposits from China and International Islamic and Trade Finance Corporation (IITFC).*

Sources said Pakistan would likely get $1 billion from the International Islamic and Trade Finance Corporation. It is learnt that the amount would be used to streamline balance of payments.

While, $2 billion from China, could be used for stabilizing foreign reserves.

Sources said the talks with China for obtaining $2 billion were in the final phase, and expected to end by the end of March.

China had also deposited $2 billion to Pakistan a few weeks ago.

The State Bank of Pakistan (SBP) last week signed an agreement with Abu Dhabi Fund for Development (ADFD) for the placement of the second tranche of US$2 billion.

It may be recalled that the first tranche of US$ 1.0 billion has already been received by SBP in January 2019.

On January 22, Pakistan and the UAE had reached an agreement on $3bn support Package in Abu Dhabi.

Economy