Dar appreciates refinancing of syndicate facility of $2.24bln by China

ISLAMABAD, Sep 30 (APP): Finance Minister, Ishaq Dar on Friday appreciated the support extended by the Chinese leadership in refinancing of syndicate facility of RMB 15 billion ( US$ 2.24 billion) to Pakistan.

During a meeting with Ambassador of the People’s Republic of China, Nong Rong, who called him, the finance minister further sought ambassador’s support in facilitating roll-over of SAFE China deposits of US$ 2 billion in March 2023, according to press statement issued by finance ministry.  

Finance Minister highlighted deep-rooted friendship and brotherly relations between Pakistan and China. 

He apprised the Ambassador about the damages caused by the unprecedented floods in Pakistan that affected the infrastructure, agriculture, lives and properties and cost to the economy at large. He expressed gratitude to the government of China for extending all out support to the government and people of Pakistan in this hour need. 

Referring to CPEC, the Finance Minister said that the Economic Corridor would play an important role in taking Pakistan’s economy forward as well as cementing the bilateral relationship between both the countries. He further assured his full support for the assistance making CPEC a successful. 

Nong Rong extended his felicitations to the Minister on assuming his new responsibilities. The Ambassador reaffirmed Chinese government’s continued support to Pakistan and emphasized that China stands with people of Pakistan in this hour of need like a rock. 

The Ambassador of China assured full support and cooperation of his government in developing Special Economic Zones as part of CPEC. He also thanked Pakistan in facilitating Chinese companies in various projects in Pakistan.