23/02/2022
The International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank, and Pakistan on Tuesday signed an agreement under which the former would make available $1.2 billion of syndicated loan for commodity financing, particularly oil and gas.
The Annual Plan was signed during a ceremony in ITFC headquarters in Jeddah between ITFC and a delegation of the Pakistan Ministry of Economic Affairs (EAD).
The US$ 1.2 billion agreement includes financing the import of essential commodities such as crude oil, refined petroleum products, LNG, food and agricultural products; in addition to implementing trade related technical assistance intervention to ensure trade development impact.