{"id":64670,"date":"2020-04-26T10:00:36","date_gmt":"2020-04-26T05:00:36","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64670"},"modified":"2025-10-01T14:25:11","modified_gmt":"2025-10-01T09:25:11","slug":"idb-approves-funding-usd-650-million-covid-relief","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/idb-approves-funding-usd-650-million-covid-relief.html","title":{"rendered":"IDB approves USD 650mn for Pakistan to resist COVID-19 aftermath"},"content":{"rendered":"\n<p>Islamabad: The Islamic Development Bank (IDB) recently pledged USD 650 million in financial support to help Pakistan deal with the aftereffects of the COVID-19 pandemic, according to a news source. The bank agreed to provide this support following an online meeting between Federal Minister for Economic Affairs Makhdoom Khusro Bakhtiar and IDB President Dr Bandar M.H. Hajjar to discuss the latest updates regarding the pandemic as well as covid relief efforts.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/japan-to-offer-additional-unhcr-mediated-funds-to-pakistan-for-covid-19-assistance.html\" target=\"_blank\" rel=\"noreferrer noopener\">Japan to offer additional UNHCR-mediated funds to Pakistan for COVID-19 assistance<\/a><\/p>\n\n\n\n<p>A public statement revealed that the IDB president had assured the federal minister of the bank\u2019s support during these trying times. Hajjar also shared that the Islamic Trade Finance Corporation (ITFC) would immediately finalise USD 500 million for importing oil and liquefied gas, while the remaining USD 150 million would be allocated to cushion the pandemic\u2019s impact.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/covid-19-relief-imf-approves-usd-1-4-bn-aid-g20-wb-sanction-debt-assistance.html\" target=\"_blank\" rel=\"noreferrer noopener\">COVID-19 Relief: IMF approves USD 1.4 bn aid; G20, WB sanction debt assistance<\/a><\/p>\n\n\n\n<p>President Hajjar told the minister that the IDB Group\u2019s board had approved the USD 2.3 billion \u2018Strategic Preparedness and Response Package\u2019 to support IDB member countries affected by the COVID-19 pandemic in the short, medium, and long term.<\/p>\n\n\n\n<p>According to sources, the technical teams from both sides have created an outline for the initial assessment of COVID-19-related <a href=\"https:\/\/www.zameen.com\/news\/pakistan-receive-2-67-million-covid-19-aid-who.html\" target=\"_blank\" rel=\"noreferrer noopener\">funds<\/a>. The Ministry of Economic Affairs will go over these proposals and prioritise them accordingly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Islamic Development Bank (IDB) recently pledged USD 650 million in financial support to help Pakistan deal with the aftereffects of the COVID-19 pandemic, according to a news source. The bank agreed to provide this support following an online meeting between Federal Minister for Economic Affairs Makhdoom Khusro Bakhtiar and IDB President Dr Bandar M.H. Hajjar to discuss the latest updates regarding the pandemic as well as covid relief efforts. Read: Japan to offer additional UNHCR-mediated funds to Pakistan for COVID-19 assistance A public statement revealed that the IDB president had assured the federal minister of the bank\u2019s support during these trying times. Hajjar also shared that the Islamic Trade Finance Corporation (ITFC) would immediately finalise USD 500 million for importing oil and liquefied gas, while the remaining USD 150 million would be allocated to cushion the pandemic\u2019s impact. Read: COVID-19 Relief: IMF approves USD 1.4 bn aid; G20, WB sanction debt assistance President Hajjar told the minister that the IDB Group\u2019s board had approved the USD 2.3 billion \u2018Strategic Preparedness and Response Package\u2019 to support IDB member countries affected by the COVID-19 pandemic in the short, medium, and long term. According to sources, the technical teams from both&hellip;<\/p>\n","protected":false},"author":58,"featured_media":63402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[27286,24075,27287],"persona":[],"class_list":{"0":"post-64670","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-covid-relief","9":"tag-covid-19-pandemic","10":"tag-idb","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IDB to give Pakistan USD 650 million for Covid relief - Zameen News<\/title>\n<meta name=\"description\" content=\"IDB has approved funds worth USD 650 million for Covid relief efforts in the country. These funds will help Pakistan deal with the pandemic&#039;s aftermath.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/idb-approves-funding-usd-650-million-covid-relief.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IDB to give Pakistan USD 650 million for Covid relief - Zameen News\" \/>\n<meta property=\"og:description\" content=\"IDB has approved funds worth USD 650 million for Covid relief efforts in the country. These funds will help Pakistan deal with the pandemic&#039;s aftermath.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/idb-approves-funding-usd-650-million-covid-relief.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:author\" content=\"atif_zameen_dev\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-26T05:00:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-01T09:25:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/covid-pakistan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shanzay Asim\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shanzay Asim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"IDB to give Pakistan USD 650 million for Covid relief - Zameen News","description":"IDB has approved funds worth USD 650 million for Covid relief efforts in the country. 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