Pakistan has agreed terms for a one billion dollar loan with two Middle Eastern banks at a six to seven percent interest rate.

This has been stated by Finance Minister Muhammad Aurangzeb in an interview with a foreign media in Davos.

He said the loans were short-term or up to one year. He said Pakistan aims to boost its finances after securing a seven billion dollars International Monetary Fund bailout in September last year.

Meanwhile, Finance Minister Muhammad Aurangzeb has held separate meetings with Chairman Saudi National Bank Saeed bin Mohammad Al Ghamdi and Minister of Foreign Affairs of Tunisia Mohamed Ali Nafti in Davos.

During the meetings, the Finance Minister briefed them about Pakistan’s recent economic progress and the country’s improved international financial ratings.

The meetings focused on fostering bilateral relations and exploring avenues of mutual interest.

The Minister also met Head of MENA and Deputy Head of the Centre for Regions, Trade, and Geopolitics Maroun Kairouz on the side lines of the World Economic Forum Annual Meeting in Davos.

They exchanged insights on avenues for cooperation between Pakistan and WEF to foster economic growth and sustainable development.

During another meeting with CEO of MNT-Halan Mounir Nakhla, Muhammad Aurangzeb emphasized government's commitment to fostering partnerships in financial innovation to support economic development.

The Minister highlighted opportunities for collaboration in digital finance to enhance financial inclusion in the country.