Pakistan is on the verge of securing final approval from the International Monetary Fund (IMF) for its $7 billion loan program, following commitments from China, Saudi Arabia, and the United Arab Emirates (UAE) to roll over existing debt for another year.

Finance Minister Muhammad Aurangzeb confirmed to Bloomberg that the rollover amounts will match those of the previous year. Pakistan has been managing loans worth $12 billion from these friendly nations, which have been extended repeatedly over the past few years.

In July, IMF staff and Pakistani authorities reached a staff-level agreement on a 37-month Extended Fund Facility Arrangement (EFF) totaling approximately $7 billion. This agreement is pending approval from the IMF’s Executive Board.

Pakistan anticipates receiving the final nod from the international lender by the end of this month.