May 21, 2003	Wednesday	Rabi-ul-Awwal 18,1424

KARACHI, May 20: Islamic Development Bank (IDB) has offered soft term financing facilities to Trading Corporation of Pakistan (TCP) to fund its sugar export business.

According to TCP here on Tuesday, this offer was made during a meeting between the visiting high powered delegation of IDB led by its Adviser, Incharge Assets Management Department, Nabil A. Nassief and TCP Chairman Syed Masood Alam Rizvi.

A four-member IDB delegation had a detailed discussions with the TCP officials regarding the export business of the corporation with special focus on export of sugar.

The TCP chairman briefed the delegation about the activities of the corporation particularly its role in the country’s economic development.

The Islamic Development Bank delegation appreciated the performance of the TCP in export sector and offered funding for sugar export at very nominal financial charges.

The TCP Chairman thanked the delegation and suggested another round of meeting for working out the modalities and details of financing on Thursday.—APP