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IDB okays $25m loan for Pakistan

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The Islamic Development Bank (IDB) has accepted the loan of $25m for Pakistan for the construction of the Mohmand dam in KP and to give financial support for vaccination procurement in the country. The regional bank okayed the two separate loans including $72.5m for vaccine procurement only. The President of IDB, Dr. Muhammad Al-Jasser signed the contract who was on a four-day visit at the OIC summit.

On the other hand, the World Bank and the Asian Development Bank co-funded IVAC Covid-19 Vaccine Support Project in the country and will receive $70m from IDB and $2.5m from IDB’s Islamic Solidarity Fund for Development (ISFD).

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