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Story summary
- Pakistan will raise $250 million with its first yuan-denominated Panda bond, entering China’s on-shore market.
- Finance Minister Muhammad Aurangzeb and Petroleum Minister Ali Pervaiz Malik announced the issue, launching a $1 billion program backed by the Asian Development Bank and Asian Infrastructure Investment Bank.
- Officials said the $250 million will fund infrastructure, energy and climate-resilient projects, diversify financing from dollar debt, and support Eurobonds, Sukuk to replace a $3.5 billion UAE facility.
