Japanese Govt Wants to Provide Financial Aid to Pakistan: Report

The Government of Japan is interested in providing Pakistan with financial support to help complete high-value economic projects.

Kuninori Matsuda, Japan's Ambassador while meeting Hammaz Azhar, the newly appointed Economic Affairs Minister, repeated Japan's pledge to boost economic collaboration to strengthen implementation of government's reforms proposals.

Matsuda said that Japan wants to lend financial support for high-value flagship schemes in the areas of hygiene and waste disposal, clean drinking water, and human resource development, including health and education, technical assistance and skill development to boost production in the country's economy.

Discussing Economic Policy

Last week, both countries held their sixth high-level economic policy discourse in Tokyo to exchange thoughts on the present state and issues with Pakistan's economy, mutual trade and investment, and steps to boost mutual economic relations and encourage investment and export, and development assistance.

The Japanese envoy conveyed support for exports and the potential steps to boost trade between the two nations. He communicated that Japanese companies are very interested in investing in the export-minded and import-substitution industries, including agriculture value chains, fisheries, food processing, home electronics, textile, and auto part sectors.

While thanking the Japanese envoy for his support, Azhar reiterated his government's help in facilitating any Japanese investors looking to invest in Pakistan. He also apprised the envoy about the key primacies of the incumbent government and structural overhaul that was being done to kickstart the economy.

An official statement quoted him saying,

Investing in human capital, protecting the poor and the vulnerable, completing institutional and governance reforms are high priorities of the government.

ADB Loans

Meanwhile, during a meeting with Xiaohong Yang, Country Director of Asian Development Bank (ADB), Azhar asked the ADB to increase its lending to Pakistan, including program lending and project financing.

Azhar recognized the ADB's support for Pakistan and talked about key primacies areas and new paths for future interventions.

In a separate statement, he said,

The government is keen to explore innovative financing models and mobilize investment in infrastructure and social sectors. These initiatives will not only provide fiscal space to the government but also help boost economic activities in the country.

Yang said that ADB and Pakistan have successfully met multiple development challenges. She guaranteed the bank's help in important sectors as marked by the present government.

Source: Pro Pakistani