Pakistan is targeting January to issue its first panda bond tranche, part of a planned programme of up to $1 billion, the Ministry of Finance said on Friday, as Islamabad seeks to diversify funding sources and tap China’s onshore debt market.

The inaugural issuance is expected to raise the equivalent of about $250 million, with further tranches to follow under a phased programme once regulatory approvals are completed, the ministry said after Finance Minister........

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