Pakistan Delays $250 Million Panda Bond Launch

The government has postponed its plan to issue $250 million worth of Panda Bonds, originally scheduled for December 2025, sources in the Ministry of Finance told ProPakistani. The bond issuance is now expected to take place in January or February 2026. According to sources, the government had initially decided to launch the Panda Bonds in the final month of this year. However, the plan has been delayed due to pending approval from the board of the Asian Infrastructure Investment Bank (AIIB). As a result, the timeline for the bond issuance is being revised. Sources further revealed that the Asian Development Bank (ADB) and AIIB are expected to provide guarantees covering up to 95% of the bond’s value. The final date for the Panda Bond launch will be determined after the upcoming AIIB board meeting. This marks the third time the government has revised its Panda Bond issuance plan. The bonds will have a three-year maturity and will be offered at a fixed interest rate.