The International Finance Corporation (IFC) on Friday approved a loan of $400 million to Pakistan Telecommunication Company Limited (PTCL). The company will use the funding to acquire Telenor Pakistan. A one year grace period finance agreement with PTCL has been entered into for seven years. The International Finance Corporation-led consortium includes the Silk Road Fund and the British. On international investment, they agreed on June 27, 2024. The $400 million loan will be repaid in quarterly installments.

Credit: Independent News Pakistan