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    South Asia
     Aug 13, 2005
Japan resumes loans to Pakistan

ISLAMABAD - After a seven-year suspension, the Japanese government on August 10 resumed yen loans under Overseas Development Assistance (ODA) by extending two loans and three grants of US$167 million for water and power as well as health-sector projects.

This is a "soft-term" yen loan characterized by a low interest rate of 1.3% per annum and long maturity of 30 years with 10-year grace period to support poverty alleviation through "economic growth" and "capacity and institution building".

The Japanese government has reportedly pledged $146 million for two projects Lower Chenab Canal System Rehabilitation ($111.8 million) and Load Dispatch System Up gradation ($34.3 million).

A $22.8-million grant has been extended for three projects including Establishment of Environmental Monitoring System (about $11 million), Flood Forecasting and Warning System-Lai Nullah Basin (about $6 million) and Renovation of The Children's Hospital Phase-III in Islamabad (about $5.8 million).

(Asia Pulse/PPI)

 

 
 



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