Pakistan $500m structure for development projects agreed upon with South Korea

ISLAMABAD: Pakistan and Korea on Wednesday authentic a $500 million Structure Set up 2018-20 for the implementation of different improvement projects. The structure set up will permit Pakistan to look financing from Korean Exim Bank for improvement of different commercial infrastructure assignments.

Secretary Financial Affairs Sector Noor Ahmed and Ambassador of the Korea Kwak Sung-Kyu, authentic the structure set up on behalf of their corresponding governments. Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Shaikh is also current on the special occasion.

Under the authentic structure set up, the Republic of Korea can provide durable concessional financing up to $500m for the execution of different improvement projects in physical health, information technology, telecommunications, agriculture, and energy sectors.

Previously, the Korean ambassador named on a consultant to the prime minister and talked about is important pertaining to the improvement of bilateral co-operation. Dr. Shaikh notified the envoy that Pakistan attached significant value to its ties with the Republic of Korea.

The consultant appreciated the role and co-operation expanded by Korea for improvement projects in Pakistan. The Korean ambassador wished that the set up would be instrumental in support up to the financial policies and initiatives being pursued by the modern Pakistani government and would additionally boost bilateral co-operation.

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