IsDB agrees record Pakistan €750m loan; Nigeria seeks $450m
The Islamic Development Bank has agreed a €750m facility for Pakistan – by far its biggest loan to the country to date, according to IFIS data. Meanwhile, Nigeria has asked IsDB for a $450m loan.
Pakistan’s loan, in dollar terms ($999m), is worth more than six times the previous biggest IsDB facility to the country, which was for $160m in January 2010. The first tranche of the deal is to be released before August 15.
IsDB’s president Ahmad Mohamed Ali Al-Madani has
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