ISLAMABAD: China has rolled over a $2 billion loan to Pakistan for another year, the finance ministry confirmed on Saturday.
The loan was originally due on March 24, 2025, and now it has been extended for one year. Beijing communicated this decision to Islamabad.
The finance ministry stated that the $2 billion loan will help bolster Pakistan’s foreign exchange reserves. The move reflects China’s continued cooperation for Pakistan’s economic stability and recovery.
Notably, in February of last year too, China rolled over the $2 billion loan to Pakistan during the caretaker government.
This development comes just one day after China’s Ambassador to Pakistan, Jiang Zaidong, met Prime Minister Shehbaz Sharif.
Read More: Chinese ambassador meets PM
During the course of the meeting, the prime minister conveyed his warm greetings and good wishes to President Xi Jinping and Premier Li Qiang.
He also congratulated the Chinese leadership and nation, on the successful convening of the “Two Sessions” of the National People’s Congress and the Chinese People’s Political Consultative Conference.
While expressing his satisfaction over the positive trajectory of Pakistan-China bilateral strategic relations, as manifested by the successful visit of President Asif Ali Zardari to Beijing last month, the Prime Minister thanked China for its longstanding and steadfast support to Pakistan on all its core issues.
He also reaffirmed Pakistan’s consistent and unflinching support to China on its core issues and said that the leadership and peoples of both countries remain determined in their shared resolve to further strengthen the Pakistan-China “All Weather Strategic Cooperative Partnership” and elevate it to new heights.
Progress on security and counter-terrorism cooperation between both countries was also discussed.
The Prime Minister noted with great pleasure that this year marked the tenth anniversary of President Xi Jinping’s historic visit to Pakistan in 2015.
