Pakistan receives $500m from AIIB: Ishaq Dar

Pakistan has received five hundred million dollars from Asian Infrastructure Investment Bank (AIIB).

In a tweet, the Ministry of Finance said the funds are deposited with the State Bank of Pakistan and will augment our reserves.

Earlier this month, the finance minister had said Pakistan would receive the funds as co-financing for a development programme.

The Building Resilience with Active Countercyclical Expenditures Programme is an Asian Development Bank (ADB) financing programme to counter the social fallouts of economic crisis.

Last month, the ADB signed an agreement with Pakistan to provide a $1.5 billion loan for budgetary support and help flood-related rehabilitation and reconstruction activities.

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