ISLAMABAD – South Korea will provide long-term concessional financing up to500 million dollars for execution of various development projects inHealth, Information Technology, Communication, Agriculture, and Energy.
To this, a Framework Arrangement was signed in Islamabad today in thepresence of Prime Minister’s Adviser on Finance Dr. Abdul Hafeez Shaikh.
Secretary Economic Affairs Division Noor Ahmed and Korean Ambassador KwakSung-Kyu signed the Framework Arrangement.
Earlier, the Ambassador called on the Adviser and discussed matterspertaining to enhancement of bilateral cooperation between the twocountries.
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The Adviser said Framework Arrangement will enable Pakistan to seekfinancing from Korean Exim Bank for development of various InfrastructureProjects in Pakistan.
The Ambassador hoped that this Framework Arrangement would be instrumentalin backing up the economic policies and initiatives being pursued by thenew Pakistani government.
