Pakistan, July 9 -- Dubai Islamic Bank (DIB), the largest banking institution in the UAE, has successfully finalized a syndicated term finance facility worth $1 billion with the Government of Pakistan. This significant financing deal was arranged in collaboration with a consortium of prominent regional and international financial institutions, according to an official statement released on Wednesday.

The five-year facility is notably backed by a partial guarantee known as a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB). This marks the first-ever PBG transaction of its kind undertaken by ADB for Pakistan, underscoring strong multilateral support for the country's fiscal reforms.

Approximately 89% of the facility is s...