Fatima Fertilizer and IFC launch $60 million liquidity facility to support food security in Pakistan |
Fatima Fertilizer Company Limited and IFC, a member of the World Bank Group, have announced a renewable liquidity facility of US $60 million per year to help maintain uninterrupted domestic fertilizer production by enabling Fatima Fertilizer to import essential raw materials machinery and technical services.
Pakistan has faced shortages of foreign exchange and delays in clearing imports which can disrupt access to key inputs and risk fertilizer shortages. The new Fatima Fertilizer facility addresses a critical market gap by providing hard currency liquidity when access to USD financing is limited. The facility also enables the Company to import essential materials and operate at full capacity. By sustaining approximately 1.46 million tonnes of annual fertilizer output and preserving more than 850 direct jobs at the Company’s Sadiqabad complex the facility will help maintain a steady fertilizer supply support thousands of small businesses across the........