PIA and ABN Amro sign $522 million loan accord

Pakistan International Airlines (PIA) and ABN Amro have signed a landmark loan financing arrangement for 522 million dollars to fund the acquisition of three state-of-the-art brand new Boeing 777-300 ER aircraft for PIA.
The agreement was signed at a ceremony arranged by ABN Amro Bank in Amsterdam on May 25. The financing arrangement comprises 12-year term loan facilities of 470 million dollars supported by Export Import Bank of America and the government of Pakistan guarantee and seven-year commercial facilities of 62 million dollars.-PR