IITFC agrees to lend Pakistan $ 3.285 billion

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.

Posted on: 2018-04-06T09:41:00+05:00