Islamic Development Bank to provide USD 4.5 billion oil financing facility to Pakistan

The Islamic Development Bank (IDB) was providing a three-year USD 4.5 billion oil financing facility to Pakistan, the country said on Saturday, adding the aid will ease pressure on its balance-of-payments. According to the finance ministry, USD 1.5 billion worth of oil on deferred payment each year by the bank had been agreed. The program will continue for three years.

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