China is going to provide Pakistan 1.5 billion dollars to help it repay a one billion dollars debt to Saudi Arabia this week, The News International reported on Monday.
According to the Pakistani newspaper, citing sources, Islamabad is set to pay back 1 billion dollars to Riyadh on Dec. 15, thus doing it ahead of schedule.
The last and the third tranche of 1 billion dollars will be paid in January 2021.
This is the second time China had to bail out Pakistan to repay the Saudi debt.
A few months ago, Beijing provided one billion dollars in the first installment.
The Pakistani Finance Ministry has declined to comment on the “bilateral confidential matters.”