Marking its return to the international capital market after more than two years, Pakistan has successfully signed a landmark agreement for a $1 billion Syndicated Term Finance Facility (STFC). The deal is supported by commercial banks primarily based in the Middle East and is partially backed by a policy-based guarantee from the Asian Development Bank (ADB).

In structuring this significant financial arrangement, Dubai Islamic Bank served as the sole Islamic global coordinator, while Standard Chartered Bank took on the roles of mandated lead arranger and bookrunner.

The financing is structured as a five-year, multi-tranche facility, incorporating both Islamic and conventional financing tranches. Notably, the Islamic facility constitutes a dominant 89% of the total financing amount and has been designed to be fully compliant with the standards set by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).