Pakistan in talks with China to borrow $1 billion
6 March 2018 10:21 PM IST
Islamabad: Pakistan is in talks with a Chinese financial institution to obtain $1 billion as a foreign commercial loan, a media report said on Tuesday.
The report in the Express Tribune on Tuesday said that amid declining foreign exchange reserves, the Pakistan government was in the process of scrutinising the loan term sheets and the agreement between the two nations was expected to be reached in March.
Pakistan has already obtained $1 billion as foreign commercial loan from the Industrial and Commercial Bank of China (ICBC) in the past three months.
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