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Unit at Guosheng Nuclear Power Plant to go offline

Unit at Guosheng Nuclear Power Plant to go offline
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Pakistan to get $4 5 billion from ITFC to fund imports

June 29, 2021 ISLAMABAD: Pakistan will get a funding of $4.5 billion from the International Islamic Trade Finance Corporation (ITFC) to finance imports of petroleum products in three years, the government said on Monday. ITFC, an autonomous entity within the Islamic Development Bank Group, signed a 3-year framework agreement for a cumulative amount of $4.5 billion with the government of Pakistan to provide financing for the import of essential commodities such as crude oil, refined petroleum products, liquefied natural gas and urea. Minister of Economic Affairs Omar Ayub witnessed the signing ceremony between ITFC CEO Hani Salem Sonbol and Ministry of Economic Affairs Secretary Noor Ahmed. The ceremony took place virtually.

$4 5bn deal signed with ITFC to finance oil, fertiliser import - Newspaper

The new framework agreement will “provide financing for the import of essential commodities such as crude oil, refined petroleum products, LNG and urea”. Reuters/File ISLAMABAD: Pakistan and the International Isla­mic Trade Finance Corpo­ration (ITFC) a subsidiary of the Islamic Develop­ment Bank on Monday signed a $4.5 billion new framework agreement to finance oil, LNG and fertiliser imports over the next three years (2021-23). The new framework agreement will “provide financing for the import of essential commodities such as crude oil, refined petroleum products, LNG and urea”, announced the Ministry of Economic Affairs (MEA) soon after the signing of the agreement.

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