Pakistan, June 19 -- Pakistan's Ministry of Finance has signed a syndicated term finance facility of $1 billion partially guaranteed by a Policy Based Guarantee of the Asian Development Bank's (ADB) Programme 'Improved Resource Mobilisation & Utilisation Reform', according to a statement from Finance Division on Wednesday.

Dubai Islamic Bank acted as the Sole Islamic Global Coordinator while Standard Chartered Bank acted as the Mandated Lead Arranger and Bookrunners.

Other financiers include Abu Dhabi Islamic Bank as the Mandated Lead Arranger and Sharjah Islamic Bank, Ajman Bank and HBL as Arrangers.

"The facility is a landmark transaction for the Government of Pakistan that demonstrates strong support from leading financiers in the r...