China rolls-over $2bn SAFE deposits, $2.3bn syndicate facility is in process

March 20, 2022 (MLN): To buttress the efforts of economic stabilization, the government of Pakistan has been in communication with the Chinese authorities for the roll-over/refinancing of all ongoing facilities worth $4.3 billion upon their maturity, said a statement issued by Finance Division today.

"Two facilities worth $4.3 billion matured in the month of March, of which SAFE deposits worth $2bn have been rolled over and the roll-over of the syndicated facility of around $2.3bn (RMB 15,000 million) is being processed," it noted.

The ongoing financing facilities include SAFE deposits, bilateral as well as commercial loans. These facilities are being used for the balance of payments and budgetary support, it said.

The statement further added that the government of Pakistan and the People’s Republic of China have strong economic ties spanning the last many decades.

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