The Economic Cooperation Organisation (ECO) Trade and Development Bank signed a loan agreement with Pakistan Refinery Limited (PRL) on January 8, 2009 for an amount of US $ 50 million for the purpose of facilitating import of crude oil from an ECO member country.

Pakistan Refinery Limited (PRL) is one of the largest refineries of Pakistan, owned by a group of oil marketing companies which belong to both private and public sector companies. Pakistan Refinery Limited mainly imports crude oil from abroad besides buying locally for refining purposes and then sale in local market.

Board of Director of the PRL and the ECO Trade and Development Bank approved the transaction to allow PRL to avail  financing up to 1 year, which will enhance trade and economic activity amongst ECO member countries.