Monday, 22 April 2019

France mulls increasing annual assistance for Pakistan to €500m

PARIS/ISLAMABAD: The French government is considering to increase the portfolio of financial assistance for Pakistan to € 500 million per annum from the current around € 150 million.

The disclosure was made by Dr Marc Baréty, Ambassador of France to Pakistan, in a meeting with the Federal Secretary Ministry of Water Resources, Shamail Ahmad Khawaja here. Philippe Fouet, Head of the Economic Department of the Embassy of France, was also present on the occasion.

The French Ambassador shared the interest of his government particularly in the water and hydropower sector and mentioned about the assistance being extended by the French government for facilitating the development in Pakistan. The ambassador shared that the current portfolio of financial assistance is of the order of € 800-900 million which is around € 150 million per annum, which the French Govt is considering to increase to € 500 million per annum depending upon the requirements. The ambassador was also apprised of various projects being executed in Faisalabad with the assistance of French treasury. The French ambassador assured the French govt gives importance to the development of Pakistan both in terms of providing funds as well as imparting trainings to build the capacity of Pakistani institutions.

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