Pakistan receives first tranche of $3 billion payment from Qatar: report

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ISLAMABAD: Qatar have sent the first tranche of $3 billion to Pakistan that will help boost its dwindling foreign-exchange reserves, Bloomberg reported.

The amount will be with Pakistan in the next few days.

Qatar pledged the amount in deposits and investments to Pakistan after Qatar’s Emir Sheikh Tamim Bin Hamad Al Thani visited Islamabad this month.

The inflow follows Saudi Arabia and the United Arab Emirates sending $5 billion in aid packages. Pakistan also received $2.1 billion loan from China in March after Pakistan’s Prime Minister Imran Khan approached friendly countries to help it avert a balance of payments crisis.

A State Bank of Pakistan official declined to comment on the inflow while the Qatar Central Bank didn’t immediately respond to a request for comment.