At this crossroads where the country is in dire need of financial support, we are excited to share that we represented as local legal counsel the Industrial and Commercial Bank of China Limited (ICBC) on a US$1.3 billion loan extended to the Ministry of Finance, Government of Pakistan, with Norton Rose Fulbright acting as foreign legal counsel to ICBC.
The loan will be disbursed in three tranches of USD 500 million, USD 500 million and USD 300 million, with the first tranche expected to be received in 2-3 days.
Our team was led by Nazif Ahmed (Head — Corporate) and comprised Aroma Ali (Senior Associate), Tasmeena Perveen (Associate), and various other associates at the firm.