IITFC agrees to lend Pakistan $ 3.285 billion

By MG News | April 06, 2018 at 09:41 AM GMT+05:00

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The International Islamic Trade Finance Corp – the financing arm of Islamic Development Bank – has agreed to lend Pakistan $3.285 billion for a period three years.

$ 3 billion of said funds will finance trade activities in Pakistan, whereas, the remaining $ 285 million would be to finance gasoline purchases.

Jeddah based IITF is the financing arm of Islamic Development Bank, it has given Islamic countries trade financing worth $ 40 billion during the last $ 10 years.

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