Pakistan, IDB finalise $200m loan agreement

Pakistan and the Islamic Development Bank (IDB) have finalised a $200 million loan agreement during a visit by an IDB delegation to Pakistan. The agreement documents were signed by the Economic Affairs Secretary and the IDB Director.

According to the Economic Affairs Division, this amount will be allocated for the rehabilitation of flood-affected areas, construction of houses, provision of clean water, and healthcare facilities, ultimately benefiting 1.3 million individuals.

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Minister for Economic Affairs Ahad Khan Cheema welcomed the IDB delegation, which is visiting Pakistan from March 22 to March 24. Cheema commended the IDB's commitment to provide $4.2 billion for the rehabilitation of flood-affected areas in Pakistan, a promise made after the devastating floods of 2022.