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Foreign borrowing soars to $6.7b Loans include $500m taken from China last month to support forex reserves Pakistan on Wednesday signed a new $1.1 billion loan agreement with the IDB for a trade financing facility. PHOTO: FILE ISLAMABAD: The government received $6.7 billion in gross foreign loans in the first seven months of current fiscal year, including a new commercial loan of $500 million from China last month, which helped Islamabad keep its gross official foreign exchange reserves at current levels. During the July-January period of fiscal year 2020-21, the government obtained $6.7 bil...

Govt, ITFC sign annual financing plan amounting to US$ 1.1bn   Published On ITFC will mobilize trade financing of US$ 1.1 billion during the year 2021. ISLAMABAD (Dunya News) – Minister for Economic Affairs Makhdum Khusro Bakhtyar witnessed the signing ceremony of ITFC’s Annual Financing Plan 2021 for government of Pakistan, amounting to US$ 1.1 billion. The document was signed by Economic Affairs Division Secretary Noor Ahmed and Chief Executive Officer Eng Hani Salem Sonbol, International Islamic Trade Finance Corporation (ITFC, a subsidiary organization of Islamic Development Bank Gr...

On February 09, Speaker of the Mongolian parliament, State Great Khural G.Zandanshatar issued an ordinance to set up a working team responsible for overseeing the implementation of the 92nd parliamentary resolution of 2019 on ‘ensuring interests of Mongolia in the exploitation of the Oyu Tolgoi gold-copper mine’. 

/PRNewswire/ - Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") announced today that the Company and Rio Tinto have agreed to cancel the...

Turquoise Hill receives Temporary Interim Relief in relation to its proposed funding strategy News provided by Share this article Turquoise Hill" or the " Company") announces that it was successful in obtaining a temporary order (" Order") on its application for urgent interim relief in the arbitration proceedings with Rio Tinto International Holdings Limited (RTIHL) and a related party.  As a result of the Order, until further order of the arbitrator, Rio Tinto may not use the parties' existing contractual arrangements to: authorize re-profiling negotiations with project lenders in a manne...