Pakistan Secures $1 Billion Financing Facility

Pakistan's Ministry of Finance has signed a five-year financing facility amounting to $1 billion. The financing is led by Dubai Islamic Bank and Standard Chartered, with the Islamic tranche comprising 89% of the total loan.

Pakistan's Ministry of Finance has entered into a significant five-year, $1 billion financing facility, as announced on Wednesday.

The financing arrangement is primarily driven by Dubai Islamic Bank and Standard Chartered, with a substantial 89% of the loan facility attributed to the Islamic tranche.

The move underlines Pakistan's ongoing efforts to stabilize its economy through strategic financial partnerships.

(With inputs from agencies.)