India, June 29 -- China has signed a $3.7 billion equivalent commercial loan deal with Pakistan, which has pulled the South Asian country's foreign exchange reserves back to the double-digits from the critically low level of $8.9 billion last week, media reports said.

According to reports, the deal is expected to help meet a commitment with the International Monetary Fund to close the fiscal year 2024-25 with $14 billion gross foreign exchange reserves.

Official sources told The Express Tribune that the Industrial and Commercial Bank of China (ICBC) and the Bank of China have signed a total $1.6 billion deals on Friday.

The money will reportedly be disbursed on Monday.

Sources told the newspaper that Deputy Prime Minister Ishaq Dar pl...