ISLAMABAD – Pakistan is all set to receive one of the biggest loan tranchefrom the International Islamic Trade Finance Corp.

The International Islamic Trade Finance Corp has agreed to lend Pakistan$3.285 billion, its chief executive said on Thursday.

“We will supply Pakistan with $3 billion to finance trade activities for aperiod of three years,” Hani Salam Sonbol said, adding that the remaining$285 million would be to finance gasoline purchases.

Jeddah-based International Islamic Trade Finance Corp is the financing armof the Islamic Development Bank for trade activities. It gave Islamiccountries trade financing worth $40 billion in the past 10 years.

“We will increase our funds to support trade activities and create jobopportunities in the next 10 years”, Sonbol told Reuters on the sidelinesof a conference in Tunis, without elaborating.

This week the International Islamic Trade Finance Corp agreed a $1.5billion financing deal with Tunisia to purchase essential commodities forpublic companies.