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Pakistan forex reserves surge to $16.69 billion
Reserves increase on back of ADB climate loan
Dec 05, 2024
Dec 06, 2024
Business Desk
The Business Desk tracks economic trends, market movements, and business developments, offering analysis of both local and global financial news.

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Pakistan’s total foreign reserves have surged to $16.69 billion mainly on account of inflows from the Asian Development Bank (ADB).
The State Bank of Pakistan (SBP) received $500 million loan from ADB to combat climate change and to help improve foreign exchange reserves on November 29.
The SBP received the funds from the ADB as proceeds of a loan to the government of Pakistan for the Climate Change and Disaster Resilience Enhancement Program (CDREP).
According to a notification from the SBP issued on Thursday, the foreign reserves held by SBP increased by $620 million to $12.038 billion, while net foreign reserves with commercial banks stood at $4.58 billion as of November 29.
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