Dr Ahmed Muhammad Ali, President Islamic Development Bank, called on Finance Minister Senator Ishaq Dar in Jeddah on Tuesday evening. During the meeting the President of Islamic Development Bank assured the Finance Minister of the full co-operation and support of IDB for Pakistan, said a message received here from Saudi Arabia. The IDB President informed the Finance Minister that the bank was keen to work with Pakistan for the eradication of polio in the country. He appreciated the reforms and liberalization measures taken by the Government of Prime Minister Nawaz Sharif for the revival and stabilization of economy.

During the meeting the IDB President agreed to extend a loan facility of 750 million euros to Pakistan, the first tranche of which would release before August 15.

The IDB President also agreed to extend a trade facility of 150 million dollars for import of fertilizer and petroleum products.

The Finance Minister appreciated the support extended by the IDB to Pakistan and the personal interest taken by Dr. Ahmed Muhammad Ali.

Dr. Ahmed Muhammad Ali praised the Finance Minister for his contribution towards the development and performance of IDB when he was its Chairman in 1998-99.

Senator Ishaq Dar appreciated the role being played by IDB in helping member Islamic Countries and promoting Islamic mode of Banking.

Senator Ishaq Dar invited Dr. Ahmed Muhammad Ali the President, Islamic Development Bank to visit Pakistan.

*This article was published by Associate Press of Pakistan. Read the original article here.