ISLAMABAD: IsDB approved $14bn financing for Pakistan since 1975, according to WealthPK on Monday.
Pakistan is the second largest beneficiary of Islamic Development Bank (IsDB) Group financing and since its inception in 1975 the bank has approved a total financing of approximately $14 billion for Pakistan, according to the Economic Affairs Division (EAD).
The EAD spokesman Saeed Chaudhry told WealthPK that the IsDB Group’s financial support for Pakistan is diverse and covers major sectors of the economy including energy (64%), industry and mining (15%), agriculture (8.3%), transport (3%), health (3.7%), and finance (1.9%).
Regarding the ongoing portfolio, he said that currently the IsDB Group’s project/short-term trade financing portfolio is $1.62 billion with ongoing projects including the Polio Eradication Programme (Ph-iii) amounting to $160 million, Support to Basic Education Development Project AJK worth $35 million, Central Asia South Asia electric transmission and trade project (CASA-1000) worth $35 million, Procurement of COVID-19 Vaccine costing $72.50 million, Short-Term Trade Financing by ITFC for import of oil, LNG, and essential commodities, Pak-202 (Direct) costing $50 million, Pak-203 (Direct) amounting to $44 million, Pak-0200 (Syndicated) costing $471.50 million, and Pak-205 (Syndicated) worth $761.50 million.
INP
