Pakistan plans to raise $500 million from Chinese bond market in 2027

The government aims to secure this funding without international guarantees as it struggles to refinance $1.3 billion in existing Chinese commercial debt.

کاروبار۲۷ اکتوبر ۲۰۲۶تحریر Web Desk

Pakistan plans to raise $500 million from Chinese bond market in 2027

The Ministry of Finance has started preparations for the second phase of the country's Panda bond program. This second issuance is expected to occur between January and June 2027, with a specific target window of April or May 2027.

Officials are considering the involvement of Chinese credit enhancement institutions to support the transaction. "We now have the experience, and some form of Chinese credit enhancement is likely to be used to raise $500 million through the second phase in the coming months," an official said.

The government seeks to secure this financing without guarantees from the Asian Development Bank or the Asian Infrastructure Investment Bank. Pakistan currently faces difficulties in fully refinancing $1.3 billion in Chinese commercial loans.

In May 2026, the country raised $258 million through a 1.75 billion yuan issuance. That first Panda bond was backed by guarantees from the Asian Development Bank and the Asian Infrastructure Investment Bank to fund the Sustainable and Green Infrastructure Project.

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