Pakistan signs $500mln loan agreement with AIIB

MG News | November 11, 2022 at 10:15 AM GMT+05:00

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November 11, 2022: Pakistan has signed a loan agreement of $500 million provided by the Asian Infrastructure Investment Bank (AIIB) under the Building Resilience with Active Countercyclical Expenditures Program.

The AIIB Board had approved the program a day earlier whereas the agreement was signed from the AIIB side by Konstantin Likitovskiy, Vice President of Investment Operations.

The signing took place during the UN’s 27th conference of the parties (COP27) meetings in Sharm El-Sheikh in Egypt and was witnessed by Federal Minister for Climate Change Senator Sherry Rehman.

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