Japan to give Pakistan $100 mn

Japan will give a loan worth $100 million to Pakistan for earthquake rehabilitation and reconstruction and a grant of $270,000 for human resource development.

Visiting Japanese Foreign Minister Taro Aso and his Pakistani counterpart Khurshid Mahmood Kasuri on Thursday signed two agreements to this effect.

The $100 mn soft loan was announced by Japan during a donors' conference in Islamabad in November.

The loan being extended on concessionary terms will have an interest rate of 1.3 per cent with repayment period of 30 years including a grace period of 10 years.

Under the second agreement, Japan has provided an initial grant of $270,000 for enhancing the training capabilities of Pakistan's Construction Machinery Training Institute.

Kasuri said the Japanese Foreign Minister announced $55 million additional assistance as grant for Pakistan.

He said they exchanged views bilateral ties and matters dealing with the peace process with India.