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October 13, 2020

IDB to give Pakistan Rs63.23 bn for oil, LNG import

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October 13, 2020

ISLAMABAD: Pakistan and the International Trade Finance Corporation of the Islamic Development Bank (IDB) signed a financing agreement amounting to US$386 million (Rs63.23 billion) for the import of oil and Liquified Natural Gas (LNG), foreign media reported on Monday.

The facility will be utilised by Pakistan State Oil Company Limited, Pakistan Arab Refinery Limited, and Pakistan LNG Limited. The Pakistani side emphasised the importance of this agreement and its role in promoting economic and social development.