Finance Minister Muhammad Aurangzeb states that he is aiming for approximately one billion dollars in a formal request from the International Monetary Fund Climate Facility.
During an interview with Reuters at the IMF/World Bank Meetings in Washington, he stated that Pakistan had officially requested consideration for this facility.
The IMF approved a bailout for Pakistan last month and has additional cash accessible through its resilience and sustainability trust.
The nation is negotiating with the Asian Infrastructure Investment Bank for a credit enhancement for a proposed panda bond, with an initial issuance of $200-250 million.
The Finance Minister stated that Pakistan’s Foreign Exchange Reserves are projected to attain 13 billion dollars by March 2025.
He stated that Pakistan is engaged in discussions with China’s Asian Infrastructure Investment Bank over the proposed panda bond.
