#Pakistan unlikely to avail $4.5bn Islamic Trade Finance Corporation facility
Pakistan is unlikely to fully benefit from $4.5bn financing package it secured about two and years ago from International Islamic Trade Finance Corporation (ITFC). Pakistan and the ITFC on Monday signed about $400 million worth of two facilities to finance oil and liquefied natural gas (LNG) imports by December this year. Another $100m facility is expected to be arranged by December. This is part of a $4.5bn package Pakistan and ITFC had signed in April 2018 to cover oil and LNG imports over a period of three years. Last year, however, the facility could not go beyond $1.05bn owing to limitations of the partner banks of the ITFC.
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