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Pakistan unlikely to avail USD4.5bn ITFC facility

 Pakistan unlikely to avail USD4.5bn ITFC facility

Pakistan is unlikely to fully benefit from the USD4.5bn financing package it secured about two and years ago from the International Islamic Trade Finance Corporation (ITFC) owing to market limitations of the Jeddah-based agency. Pakistan and the ITFC on Monday signed about USD400mn worth of two facilities to finance oil and liquefied natural gas (LNG) imports by December this year. Another USD100mn facility is expected to be arranged by December. In addition, Islamabad has given a mandate of an additional USD500mn for six months after December.

Source: https://www.dawn.com/news/1584755/pakistan-unlikely-to-avail-45bn-itfc-facility

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