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Islamic Trade Finance Corporation to give $600m for commodity financing - Newspaper

Islamic Trade Finance Corporation to give $600m for commodity financing - Newspaper
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Foreign borrowing soars to $6.7b

Foreign borrowing soars to $6.7b
Loans include $500m taken from China last month to support forex reserves
Pakistan on Wednesday signed a new $1.1 billion loan agreement with the IDB for a trade financing facility. PHOTO: FILE
ISLAMABAD:
The government received $6.7 billion in gross foreign loans in the first seven months of current fiscal year, including a new commercial loan of $500 million from China last month, which helped Islamabad keep its gross official foreign exchange reserves at current levels.
During the July-January period of fiscal year 2020-21, the government obtained $6.7 billion in external loans from multiple financing sources, the Ministry of Economic Affairs reported on Wednesday. The gross loans were higher by 6% or $380 million over the same period of last fiscal year. ....

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