KARACHI, Aug 31: Head of a two-member mission of the Islamic Development Bank Mohammad Sayef Uddin said on Friday that IDB will make $125 million credit facility available to the small exporters in Pakistan through National Bank.

He was speaking at a meeting of Islamic Chamber of Commerce and Industry.

According to a press release he explained to the participants of the meeting that another $275 million IDB facility available to the exporters are of direct nature. Under this facility the exporters after shipment send their documents to the IDB and the IDB buys the export documents and pays the amount equivalent to the exports value.

He informed the members of Islamic Chamber of Commerce and Industry here about different lines of financing of IDB available for the private sector. These are available to the private sector of the member countries of Organization of Islamic Countries (OIC) only.

“He also highlighted the facilities and services provided by IDB’s affiliates such as Islamic Centre for Development of Private Sector (ICD), Islamic Corporation of Insurance of Investment and Export Credit (ICIEC) and Infrastructure Fund.”

Mohammad Sayef Uddin is the executive director on the board of executive directors of IDB: the other member of the mission is Muhammad Iqbal Azad.

Secretary General of the Islamic Chamber Aqeel Ahmed Al-Jassem welcomed the guests.