The agreement was signed by Eng. Adeeb Yousef Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), and Dr. Kazim Niaz, Federal Secretary for Economic Affairs, on behalf of the Government of Pakistan. The signing ceremony was witnessed by Dr. Mohammed Al-Jasser, President of the Islamic Development Bank (IsDB).

 This significant financing facility represents the largest syndicated financing arranged by ITFC for Pakistan over the past three years, amounting to US$513 million. It was significantly oversubscribed, with the final amount raised exceeding double the initial target, reflecting strong investor interest and confidence. 

The financing proceeds will be used to import   crude oil, petroleum products, and liquefied natural gas to meet Pakistan's energy needs.
This significant facility is the largest ITFC-led syndicated financing facility for Pakistan in recent years, with the final amount raised exceeding double the initial target, underscoring strong confidence and strong market demand.

“This syndicated financing represents a clear vote of market confidence in both ITFC’s capabilities and Pakistan’s economic trajectory, and demonstrates the growing confidence of our financing partners and the Corporation’s unwavering commitment to supporting Pakistan’s energy security,” said Eng. Adeeb Yousef Alama, ITFC CEO.

On the other hand, Dr. Kazim Niaz, Federal Secretary for Economic Affairs, said that this significant financing from the International Islamic Trade Finance Corporation (ITFC) confirms the growing confidence of international capital markets and development partners in Pakistan's economic trajectory. He added, "We are witnessing positive trends in our macroeconomic indicators, reflecting the relentless efforts towards economic recovery and stability."

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