Pakistan plans to raise up to $1 billion through international bonds in the 2025/26 fiscal year, Finance Minister Muhammad Aurangzeb told Reuters, adding that up to $300 million will be raised through Chinese markets.

“The first bond market we will access is the Chinese panda bond market, and our inaugural bond will raise the yuan equivalent of $250-300 equivalent,” said Aurangzeb.

He said once Pakistan’s investment ratings improve, the ministry plans to tap European and other markets, he added.

On Wednesday, the finance minister presented the budget for the upcoming fiscal year through June 2025.