Japan gives soft loan of $233m for flood victims’ rehab


ISLAMABAD: Pakistan and Japan signed on Friday a soft loan agreement
of $233 million out of $500 million pledged by it at the Pakistan Development Forum last year in November for early rehabilitation of the flood affectees.
Japanese Ambassador Chihiro Atsumi and Economic Affairs Division Secretary Sibtain Fazal Halim signed the agreement. Under the arrangement, $ 59 million would be for budgetary support while $ 174 million would be utilised for Khyber-Pakhtunkhwa Rural Road Rehabilitation Project. The loan has been provided
on an interest rate of 0.01 per cent per annum and would be payable in 40 years, including a grace period of 10 years.