Saudi-backed IsDB ready to help Imran-led govt. with $4Bn loan

Pakistan plans to borrow more than $4Bn from the Saudi-backed Islamic Development Bank (IsDB) as part of its attempts to restore dangerously low stocks of foreign currency. It has been reported that IsDB is waiting for the elected govt. to take charge before giving their approval. Officials said the loan would be used mainly to pay for oil imports, with higher crude prices having contributed to the country’s problems.