Islamabad: To improve Pakistan’s response and preparedness to climate-induced disasters, the Japanese government has offered the country a grant worth $19 million (Rs3 billion) to build sophisticated weather surveillance radar in Sukkur in southern Sindh province.
The installation of the new radar “will enhance Pakistan’s weather surveillance capacity and contribute to the mitigation of damages caused by natural and hydro-meteorological disasters” and deliver reliable and timely meteorological information. It will help develop a weather surveillance radar network that can cover around 90 per cent of the country.
Noor Ahmad, Secretary Economic Affairs Division (EAD) and Ambassador of Japan Matsuda Kuninori signed the grant agreement on Monday. Federal minister for Economic Affairs Khusro Bakhtyar also witnessed the signing ceremony.
Islamic Development Bank to Provide $60 Million to Pakistan for Polio Vaccine
Islamic Development Bank (IsDB) will provide financing of $60 million to Pakistan for the polio vaccine, including a $21 million ‘Lives and Livelihood Fund (LLF)’ grant.
Economic Affairs Division, on behalf of the government of Pakistan, signed a financing agreement with the representative of IsDB for the financing of $60 million.
This amount comprises a $39 million loan and a $21 million LLF grant by the IsDB. These funds will be utilized for polio vaccination.
Noor Ahmed, Secretary Economic Affairs Division, appreciated IsDB’s support to Pakistan for Polio Eradication Program (2019-2021). He said, “Today, we celebrate the long-standing partnership with the Islamic Development Bank. Over the years, we have received consistent support from the bank to keep up the fight for a polio-free Pakistan. We also thank partners of Lives & Livelihood Fund (LLF) for allocation of grant for this cause.”
Pakistan successfully concludes debt rescheduling agreements
December 21, 2020
ISLAMABAD, Pakistan: It may be recalled that the G20 Countries together with the Paris Club Creditors had announced a Debt Service Suspension Initiative (DSSI) to provide much needed fiscal space to stressed Countries in their fight against the COVID-19 pandemic.
Taking advantage of this initiative, the government of Pakistan entered into negotiations with 21 Creditor Countries for debt suspension amounting to US$ 1.7 billion.
The government of Pakistan has successfully negotiated and concluded debt rescheduling agreements with 19 bilateral creditors including members of the Paris Club.
The debt rescheduling agreements were signed on Monday with France, Switzerland, and China by the Economic Affair Division at Islamabad.