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Pakistan, China sign $2.3b loan facility agreement

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SLAMABAD: Pakistan on Wednesday signed a RMB 15 billion ($2.3 billion) loan facility agreement with a Chinese consortium of banks which is expected to aid the depleting foreign exchange reserves and depreciation of local currency.

Finance Minister Miftah Ismail announced the development on his Twitter handle, revealing that the inflows are expected within a couple of days.

 

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