Islamic Development Bank to extend loan of 750 Million Euros to Pakistan
Islamabad, August 03 2013 (PPI-OT): Dr. Ahmed Muhammad Ali President Islamic Development Bank called on the Finance Minister Senator Ishaq Dar in Jeddah last evening.
During the meeting the President of Islamic Development Bank assured the Finance Minster of the full co-operation and support of IDB for Pakistan.
The President of IDB informed the Finance Minister that Islamic Development Bank was keen to work with Pakistan for the eradication of Polio in the country.
The President Islamic Development Bank appreciated the reforms and liberalization measures taken by the Government of Prime Minister Nawaz Sharif for the revival and stabilization of economy.
During the meeting the President of Islamic Development Bank agreed to extend a loan facility of 750 million Euros to Pakistan, the first tranche of this loan will be released before 15th of August 2013,he added.
The President of IDB also agreed to extend a trade facility of 150 million dollars for import of fertilizer and Petroleum products.
The Finance Minister appreciated the support extended by IDB to Pakistan and the personal interest taken by Dr. Ahmed Muhammad Ali.
Dr. Ahmed Muhammad Ali praised the Finance Minister for his contribution towards the development and performance of IDB when he was its Chairman in 1998-99.
Senator Ishaq Dar appreciated the role being played by IDB in helping member Islamic Countries and promoting Islamic mode of Banking.
Senator Ishaq Dar invited Dr. Ahmed Muhammad Ali the President, Islamic Development Bank to visit Pakistan.
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