ISLAMABAD: The Japanese government will give Pakistan $43 million (Rs5 billion) concessional loan under Energy Sector Reforms Programme, which is co-financed by the Asian Development Bank, the World Bank and Tokyo.
This amount would be spent on second phase of the programme as the Japanese government had provided last June a loan of similar amount for the first phase.
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While talking to media, Counsellor of Economic and Development at the Japanese Embassy, Takashi Harada, said the target for the first year has been achieved, and second year of the project will be stated with the fresh loan.
Harada stated that the government should take steps to overcome the structural problems. The Japanese government believed that the reform programme would not only promote the energy sector reforms but also improve the government’s fiscal situation and stimulate economic activities, he added.
Notes for the second loan were signed and exchanged between Ambassador of Japan, Hiroshi Inomata and Economic Affairs Division Secretary Tariq Bajwa.
