The new plant will help improve the efficiency of vital social services as well as encourage the development of local industries.

Apart from Pakistan, OFID has also signed new loan agreements with Grenada, Mozambique and Senegal.

Commenting on the newly-signed loans, OFID Director-General Suleiman J. Al-Herbish "The loan agreements signed today will go a long way towards alleviating poverty and raising living standards for millions of people."

OFID has committed over $15.7bn since its inception in support of sustainable development in 134 countries.