Representing ITFC and Pakistan respectively were Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, and Hon. Dr. Kazim Niaz, Federal Secretary for Economic Affairs.
The financing facility marks the largest syndicated operation arranged by ITFC for Pakistan in over three years, and it was significantly oversubscribed, with investor demand pushing the final amount well above the initial target a clear indication of robust market confidence.
The funds will be directed toward the import of crude oil, petroleum products, and liquefied natural gas (LNG), strengthening Pakistan's energy security at a critical time.
"This syndicated financing is a clear vote of confidence by the market in both the ITFC capabilities and Pakistan's economic trajectory," said Eng. Adeeb Y. Al-Aama.
Read also:
"It demonstrates the growing trust of our financing partners and ITFC's steadfast commitment to supporting energy security in Pakistan. Since 2008, our partnership has resulted in approvals of over US$8.1 billion in trade finance — a testament to our long-standing support for Pakistan's development goals."
Echoing the sentiment, Dr. Kazim Niaz noted: "This significant financing underscores the growing confidence of international capital markets and development partners in Pakistan's economic trajectory.
We are witnessing positive trends in our macroeconomic indicators. This facility will bolster our trade capabilities and contribute to sustained growth."
The agreement reaffirms ITFC's mission to deliver Shari'ah-compliant trade solutions that foster economic resilience and regional integration.
By channeling vital resources into Pakistan's energy sector, ITFC is playing a strategic role in supporting long-term stability and development across the OIC region.
No comments:
Post a Comment