Pakistan has received a $200 million loan from the Islamic Development Bank it is reliably learnt. The loan is on a floating rate for general purpose use and is repayable after one year.
In the past, Pakistan had normally been availing trade finance facility from IDB - where payment is made by IDB directly to the supplies - from an Organisation of Islamic Countries (OIC) - of crude oil or POL products or palm oil. Just three months ago, IDB provided $100 million for the import of wheat from Turkey at 1.95 percent over LIBOR.
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