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Pakistan Receives $700 Million Loan From China Development Bank

The China Development Bank has approved a $700 million loan for Pakistan (CBD).

The minister of finance, Ishaq Dar, confirmed the news on Twitter. Formalities have been completed, and the Board of Directors of the China Development Bank has granted a credit of US$700,000,000 for Pakistan, he said. This cash is expected to be received by the State Bank of Pakistan this week, increasing its foreign exchange reserves.

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