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.