After signing of Memorandum of Understanding (MoU) by the United States and Pakistan regarding restoration of NATO supplies, the State Bank of Pakistan (SBP) has received $1.1 billion from the United States under Coalition Support Fund (CSF). The money from US ‘CSF’, intended to reimburse Pakistan for the cost bearing of counter-insurgency operations on the behalf of war on terror, had been withheld due to tensions between the two countries and Islamabad’s blockade of the supply routes.
On July 31st, the MoU was signed by US Charge D’Affaires Richard Hoagland and Pakistan Additional Secretary of Defense Ministry Rear Admiral Farrokh Ahmad in Rawalpindi.
The accord became operational after formal signing by the two countries. It will remain in effect till December 31, 2015 and is renewable for one year after consultations.
SBP receives $1.1 billion under CSF
