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Monday, December 23, 2024

Home Top News SBP receives over $500m from WB

SBP receives over $500m from WB

by News desk
July 29, 2020
in Top News

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Staff Reporter

Karachi

The State Bank of Pakistan received $505.5 million from the World Bank on Tuesday to sustain itself in the fight against the novel coronavirus that has adversely affected the economy of the country.
Last week, Pakistan had signed two loan agreements valuing $750 million with the World Bank and the Asian Infrastructure Investment Bank for the Resilient Institutions for Sustainable Economy programme.
The World Bank was to extend a loan of $500 million and the Asian Infrastructure Investment Bank to provide co-financing of $250 million for the programme.
However, the central bank hasn’t specified any further regarding the installment it received as of today.