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Habib Bank, China Development Bank sign financing agreement

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Habib Bank, China Development Bank sign financing agreement

Pakistan's Habib Bank Ltd. and China Development Bank Corp. signed a foreign-currencyfinancing agreement, Dawn reportedApril 26, citing a statement from Habib Bank.

Under the agreement signed April 25, Habib Bank will receiveUS$300 million in project financing for certain projects in Pakistan and US$200million for offshore working capital financing needs.

Habib Bank recently receiveda license to open a branch in China.