The Islamic Trade Financing Corporation will lend $3 billion to Pakistan.

The statement followed a meeting in Washington between the Islamic Trade Financing Corporation (ITFC) delegation and Pakistan’s Finance Minister Muhammad Aurangzeb.

According to specifics, during the course of the following three years, Pakistan will get the $3 billion loan.

Attending the meeting was Engineer Hani Salem Sonbol, the CEO of ITFC. Appreciating the $3 billion commodity financing deal was the finance minister.

In the initial stage, Pakistan will receive $270 million. The finance minister promised that the government will fully support this endeavor.

The International Monetary Fund (IMF) must incorporate social protection measures into its financing frameworks, according to Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue.

The minister made this statement, according to a news release, when he spoke at an IMF meeting with finance ministers, central bank governors, and heads of regional financial institutions in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) area.

He called on the Fund to maintain growing debt relief and concessional financing tools to assist vulnerable countries, as well as to concentrate on improving finance for climate resilience.

He praised the inclusion of new issues in the evaluation of the Low-Income Countries Debt Sustainability Framework (LIC-DSF), including risks associated with climate change, domestic public debt, and complicated debt restructuring scenarios.

Jefferies International arranged a roundtable with institutional investors, which the minister attended in the meantime. He informed the investors of Pakistan’s promising economic data, which is being driven by the successful Stand-By Arrangement (SBA).