French Development Agency to provide Euro 165m soft loan to Pakistan for energy sector

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Muhammad Arshad

Islamabad

French Development Agency (AFD), Thursday, agreed to provide the Euro 165 million soft loan to Pakistan for energy sector related projects. In this regard, the Economic Affairs Division (EAD) and AFD signed documents related to the agreements.
Agreements aim at financing energy sector projects i.e Power Transmission Enhancement Investment Tranche-IV and Mangla Power Plant Rehabilitation Project. Main objective of the program is to make Energy Sector more affordable, reliable and sustainable, supporting the country’s economic growth through expeditious implementation of the National Power Policy, 2013.
Finance Minister Ishaq Dar and French Ambassador Martine Dorance were also present at the agreement signing ceremony. Secretary, Economic Affairs Division (EAD) Shahid Mahmood, Ambassador of France Martine Dorance and Country Director of the French Agency for Development (AFD) Jacky AMPROU, signed the Euro 165 million soft loan agreements at the Ministry of Finance.
Finance Minister on the occasion appreciated AFD’s continued support and assistance for economic development of Pakistan. Ambassador of France Ms Martine said France and Pakistan enjoyed long history of cooperation.
France was pleased to extend support to Pakistan in different areas, said Ms Martine. Main objective of the program is to make Energy Sector more affordable, reliable and sustainable, supporting the country’s economic growth through expeditious implementation of the National Power Policy, 2013.
On the other hand, there in Paris, Pakistan and France signed a Memorandum of Understanding (MoU) to deepen bilateral scientific cooperation in the field of meteorology. The MoU was signed by Ambassador of Pakistan to France Moin ul Haque and Jean-Marc Lacave, Chief Executive Officer of Meteo France.
The signing ceremony was witnessed by Patrick Benichou, President Meteo France, Bernard Strauss, Director International Relation Meteo France and Andre de Bussy, Head of Cooperation and Cultural Affairs, Embassy of France in Pakistan.
The Ambassador of Pakistan Moin ul Haque while explaining the salient features of the MoU said that under this agreement, both the countries will work together to bring improvement in Pakistan’s weather forecasting system, develop capacities in the field of early warning and weather services for the protection of human life, property and the environment, with special focus on the implementation of a heat wave early warning system.
The MoU envisages jointly designing and implementation of a special project to develop Pakistan Meteorological Department (PMD)’s sectoral meteorological and climate services including the Early Warning System. Under this project, cooperation in the areas of applications of the science of meteorology to socio-economic development, with special focus on wind and solar power potential assessment including establishment of a National Climate Center would also be covered.
Moin ul Haque said that both the countries will also benefit from each other’s expertise through sharing of information, exchange of scientific and technical personnel and through knowledge transfer, joint studies and research of subjects of mutual interest.

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