Ja­pan pro­vides $ 43m to sup­port the en­ergy sec­tor re­form pro­gram

The Pak Banker - - NATIONAL -

The govern­ment of Ja­pan an­nounced on Tues­day to pro­vide a con­ces­sional loan of USD 43 mil­lion to Pak­istan for the En­ergy Sec­tor Re­form Pro­gram as the se­cond of this kind af­ter the pro­vi­sion of the loan of the same amount in June 2014.

The Notes to this ef­fect were signed and ex­changed be­tween H.E. Mr. Hiroshi Ino­mata, Am­bas­sador of Ja­pan to Pak­istan and Mr. Tariq Ba­jwa, Sec­re­tary for Eco­nomic Affairs Divi­sion, the Govern­ment of the Is­lamic Re­pub­lic of Pak­istan. This loan is part of the En­ergy Sec­tor Re­form Pro­gram that is co­fi­nanced by the Asian De­vel­op­ment Bank (ADB) and the World Bank (WB). ADB, WB and the Govern­ment of Ja­pan worked with the Govern­ment of Pak­istan to de­velop a re­form pro­gram and set agreed pol­icy tar­gets in the en­ergy sec­tor. In his re­marks, H.E. Mr. Hiroshi Ino­mata ap­plauded the Govern­ment of Pak­istan's ef­forts to­wards the en­ergy sec­tor re­forms by stat­ing that "The Govern­ment of Ja­pan ex­pects the en­ergy sec­tor re­forms will con­trib­ute to the eco­nomic sta­bil­ity of Pak­istan as it is the high­est pri­or­ity of the Govern­ment of Pak­istan to re­solve the en­ergy is­sues, and we rec­og­nize that the en­ergy sec­tor re­forms will un­leash the huge eco­nomic po­ten­tial of Pak­istan."

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