IDB agrees to provide 750m euros loan

Posted by on Aug 5th, 2013 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

The Islamic Development Bank (IDB) has agreed to extend a loan facility of 750 million euros to Pakistan. The first tranche of the loan will be released before mid of the current month. The IDB will also provide a trade facility of $150 million for import of fertiliser and petroleum products. Besides, the IDB president informed the finance minister that Islamic Development Bank was keen to work with Pakistan for the eradication of polio in the country. The President of Islamic Development Bank, Dr Ahmed Mohammad Ali, assured the finance minster Mohammad Ishaq Dar, of the full cooperation and support of IDB for Pakistan.

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