Riyadh (Saudi Arabia) – In a significant step to support Pakistan’s critical energy requirements, the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has signed a $513 million financing agreement with the Government of Pakistan.
The signing ceremony took place at the Islamic Development Bank headquarters in Saudi Arabia. Dr. Kazim Niaz, Federal Secretary of Economic Affairs, represented Pakistan, while Dr. Muhammad Al Jasser, President of the Islamic Development Bank, was also in attendance.
The agreement was signed by Eng. Hani Salem Sonbol, CEO of ITFC (or Eng. Adeel Al-Ameed, if that’s the correct transliteration), and Dr. Kazim Niaz on behalf of the Government of Pakistan.
On this occasion, Eng. Adeel Al-Ameed stated that since 2008, more than $8.1 billion in trade finance has been approved under a strategic partnership with the Government of Pakistan. This ongoing support reflects ITFC’s strong commitment to Pakistan’s economic development.
