IsDB announces aid package for Pakistan

By: News Desk      Published: 09:45 PM, 22 Apr, 2020
IsDB announces aid package for Pakistan

The Islamic Development Bank (IsDB) has announced a financial aid package for Pakistan, according to Economic Affairs Division.

The bank will provide Pakistan with $150 million to get over financial crisis emerged in the wake of coronavirus breakout. Islamabad will be funded with $500 million to import LNG and oil. This is under the Islamic Trade Finance Credit.

IsDB President Dr Bandar Hajjar and Economic Affairs Minister Khusroo Bakhtiyar had a conversation on a video call. The president said the bank will extend a helping hand to Pakistan in this hour of need.

More than $2 billion is being announced for member states. Pakistan will be given the financial aid according to its needs.