Islamabad
Japan agrees to defer debt (approximately ً 370 million) to help Pakistan cope with Corona virus crisis The move is in line with the G20 loan deferral agreement agreed on April 15, 2020. And on June 9, 2020, a Memorandum of Understanding was signed between Pakistan and its creditors.
The signing ceremony was held in Islamabad and was signed by Japan’s Ambassador to Pakistan Matsuda Cononori and Secretary for Economic Affairs Noor Ahmed.
The deferred loans were disbursed from 1900 to 2010 for development works in Pakistan such as construction of roads, tunnels, power plants, irrigation, water supply, drainage, etc.
The loan had very low interest rates as well as very favorable conditions for Pakistan, including a long-term concession and a reasonable repayment period.
On the occasion, Japanese Ambassador Matsuda Koninori said that with the hope of stability in Afghanistan, I am confident that some of these projects will lead to connectivity between Pakistan, Afghanistan and Central Asia.
Under this agreement, the schedule for payment of debts and interest due between May 1, 2020 and December 31, 2020 will be rescheduled after June 15, 2022.
The global spread of Code-19 has had economic effects at every level and Pakistan has also been badly affected by the virus.
Japan provided 95 9.5 million in direct assistance to Pakistan, while ممالک 7.4 million was provided in conjunction with other countries to prevent the spread of COD-19 and to ensure early availability of other medical devices, including diagnostic kits. Had given
The Japanese Ambassador said that global solidarity on the medical and economic fronts is essential to fight the disease and the agreement we have signed with Pakistan today is a testament to Japan’s solidarity with Pakistan on the economic front.
