Islamic Development Bank

Sources say Islamabad expects a $500 million facility from Islamic Development Bank for oil and other commodities

Money acquired to build foreign currency reserves and repay loans

No allocation made for foreign loan repayment in hope of rescheduling by lenders

Package approved to mitigate impact of Covid-19 pandemic

Steps taken by the government “to manage the economy” will bring stability in the near term

Focuses on science, economic empowerment and public-private partnership

IDB president emphasises that the bank would further strengthen cooperation with Pakistan

Oil supply from Saudi Arabia also set to commence from mid-February

Members of the meeting also discussed partnership through recommendations

Pakistan is likely to turn towards IMF for a bailout as it stands on the verge of a balance-of-payments crisis

300 locomotives will be inducted with help of IDB financing in span of 7 years

Sessions covered various topics pertaining to monitoring, evaluation

The three projects are currently owned and operated by Wapda

Turkmenistan plans to hold roadshows to raise more funds

Events held around capital to mark World Polio Day