China pledges Pak $3.7 bn aid
China has assured Pakistan of re-lending $3.7 billion in loans, denominated in Chinese currency, before the end of June, in a move that will help keep the foreign exchange reserves in double digits, according to a media report on Wednesday.
Unlike in the past, when Beijing has given loans in non-Chinese currency too, this time Pakistan’s strategic ally has decided not to give loans in US currency as part of its drive to decouple the economy from the dollar, government sources said.
They said China gave these assurances during recent meetings, aimed at securing the refinancing of loans maturing between March and June 2025.
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