The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) signs the Annual Plan for 2022 in favor of the Government of Pakistan, to provide integrated trade solutions to support the energy and agriculture sectors. The US$ 1.2 billion agreement includes financing the import of essential commodities such as crude oil, refined petroleum products, LNG, food and agricultural products; in addition to implementing trade related technical assistance intervention to ensure trade development impact. The Annual Plan was signed during a ceremony in ITFC headquarters in Jeddah between ITFC and a delegation of the Ministry of Economic Affairs (EAD), Islamic Republic of Pakistan. Referring to the agreement, Nazeem Noordali, COO, ITFC stated that this annual plan reflects the importance of the longstanding cooperation between ITFC and the Government of Pakistan “ITFC is continuously working closely with its member countries to meet their requirements through providing integrated solutions that includes financing and capacity building tools that allows for maximizing the development impact of ITFC interventions. We are delighted and we will continue to mobilize financial resources to support Pakistan in its endeavours to achieve its economic targets through our existing Framework Agreement.” From their side, the EAD delegation, Pakistan expressed their appreciation for the continued support and partnership with ITFC, and underlined the need for enhanced cooperation through more efficient processes to further promote Islamic trade finance and trade development interventions in Pakistan. Despite a challenging year in due to the COVID-19 pandemic, ITFC provided around US$1.1 billion of trade financing in 2021. ITFC has signed the 4th framework agreement with the Government of Pakistan in June 2021 for US$ 4.5 billion. It is worth mentioning that, since 2008, ITFC has provided US$ 6.7 billion in favor of the Government of Pakistan.Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC). Contact Us: Twitter: bit.ly/3mi4bbG Facebook: bit.ly/3vKnZaS LinkedIn: bit.ly/3GH80ix Tel: +966 12 646 8337 Fax: +966 12 637 1064 E-mail: ITFC@itfc-idb.org About the International Trade Finance Corporation (ITFC): The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided US$61 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market. Send us your press releases to email@example.com © Press Release 2021 Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release. The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk. To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.