Pakistan signed three financing agreements worth $603.4 million with the Islamic Development Bank (IsDB) to boost infrastructure and social programs. The deals were inked between IsDB Vice President Operations Dr. Rami Ahmad and Pakistani officials. The signing took place in Islamabad with key ministers and senior government representatives present. Under the agreements, $118.4 million will […]
Islamic Development Bank
M-6 Sukkur-Hyderabad motorway to begin in april 2026
The National Highway Authority (NHA) has confirmed that the M-6 Sukkur-Hyderabad motorway project will officially begin in April 2026. Land acquisition for the project is expected to start within a month. During a briefing to the National Assembly Standing Committee on Communications, NHA Chairman Sheharyar Sikandar said the Islamic Development Bank will fund the project […]
IsDB sign charter of Humanitarian Trust Fund for Afghanistan
ISLAMABAD: Organization of Islamic Cooperation (OIC) and Islamic Development Bank (IsDB) on Monday signed the Charter of Humanitarian Trust Fund for Afghanistan to raise donations for the people of the country suffering from a humanitarian crisis. OIC Secretary-General Hissein Brahim Taha and President IsDB Muhammad Sulaiman Al Jasser inked the Charter witnessed by Foreign […]
Govt to borrow $16b to settle debts in FY22
ISLAMABAD: The government is planning to acquire $16 billion in the next fiscal year to counter the maturing external public debt, its recurring interest payments and finance the expected budget deficit. The figure would be the highest ever borrowed by Pakistan in a single year, underscoring its woes at the hands of recurring debt payments. […]
Colombia gets $31.5 million grant to aid Venezuelan migrants
A refugee fund set up by the World Bank, the United Nations and the Islamic Development Bank on Friday approved a $31.5 million grant for Colombia to aid Venezuelan migrants and refugees. The Global Concessional Financing Facility grant provides budget support to Colombia as it works to facilitate access to jobs and basic social services […]