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