According to sources, the Finance Ministry of Pakistan has applied for a total loan of $1.75 billion from 3 major international lenders, including the Islamic Trade Finance Corporation (ITFC), the Islamic Development Bank (IDB), and Standard Chartered Bank.

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Out of the total amount, Pakistan has requested $400 million from the ITFC to help buy essential entities and $350 million from the IDB for project financing. Additionally, the country is seeking a $1 billion loan from Standard Chartered Bank to fund essential infrastructure projects.

These Pakistan Loan Requests are predicted to come with a long-term repayment period and an interest rate of around 5%. This loan request is part of Pakistan’s efforts to meet financial obligations under the International Monetary Fund’s (IMF) $7 billion loan program. Sources also said that the Finance Ministry is open to higher-interest loans from commercial banks.

Meanwhile, discussions are ongoing to restore a delayed oil loan facility with Saudi Arabia.

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