ITFC to Provide $3 Billion in Commodity Financing to Pakistan

The International Islamic Trade Finance Corporation (ITFC) has pledged to extend $3 billion in commodity financing to Pakistan over the next three years. This strategic commitment was announced following a meeting between Pakistan’s Federal Minister of Finance, Muhammad Aurangzeb, and ITFC representatives, aiming to support the country’s trade sector and economic stability.

In addition to the long-term financing plan, ITFC also declared the immediate release of $269 million in direct financing to meet Pakistan’s short-term needs. This move is set to provide crucial support, particularly for imports of essential commodities such as petroleum, agricultural products, and raw materials.

During the meeting, ITFC representatives expressed their intention to diversify their investment portfolio in Pakistan, showcasing a long-term commitment to economic collaboration. Minister Aurangzeb acknowledged ITFC’s support, stating that the government is ready to facilitate and strengthen this partnership to ensure continued growth and trade stability.

The financing arrangement is expected to ease pressures on Pakistan’s foreign exchange reserves and improve the overall trade environment, positioning the country to better manage its import obligations and stabilize key sectors.