June 25 (LNGJ) - Pakistan is expecting to receive a $4.5 billion trade financing facility over three years from the Islamic Trade Finance Corp. (ITFC), a member of the Islamic Development Bank Group which provides member countries with funds from financial institutions in the Middle East. The funding is for LNG imports and also to cover shipments of crude oil and petroleum products.
“A formal financing framework agreement, along with an annual financing plan of about $1.5Bln each year, will be signed early next week,” said a statement. The Saudi Fund for Development has already provided Pakistan with $531 million for the project financing of power plants.
