SBP to soon receive second tranche of $2 billion from Abu Dhabi fund
Last updated on: 09 March,2019 05:29 pm
The agreement for the placement of the second tranche of $2 billion has been signed.
(Web Desk) – The State Bank of Pakistan (SBP) on Saturday signed an agreement with Abu Dhabi Fund for Development (ADFD) for the placement of the second tranche of $2 billion.
According to a notification issued by the Central Bank, these funds are expected to be received by the SBP shortly. The first tranche of $1 billion was received in January.
The agreement for the placement of the second tranche of $2 billion by ADFD with the SBP has been signed.
In January, the SBP had signed an agreement with ADFD for $3 billion to be deposited in the SBP account.
Foreign Office has announced that the funds “will help Pakistan achieve financial stability and overcome economic challenges.”