Saturday, January 22, 2011



Japan to provide $233m for economic stability

ISLAMABAD: The government of Japan on Friday extended a soft loan of 19.7 billion yen (approximately $233 million) to Pakistan with a view to promoting economic stabilisation and development efforts of the government. The notes were signed and exchanged between Japan’s Ambassador to Pakistan, Chihiro Atsumi, and Secretary Economic Affairs Division, Sibtain Fazal Halim, in Islamabad. At the Pakistan Development Forum in November 2010, the Japanese government pledged $500 million in assistance, which was aimed at the rehabilitation and reconstruction of the flood-affected areas. By signing the notes, the entire pledged amount was put into the implementation phase. The soft loan consists of two components, a) The Khyber Pakhtunkhwa Emergency Rural Road Rehabilitation Project worth US $174 million. The road network in KP was severely damaged by the last year’s floods, making many areas inaccessible and resulting in the division of communities. staff report

Courtesy www.dailytimes.com.pk

Back to Top