Ambassador of the Republic of Korea, Suh Sangpyo said on Wednesday that IT Parks construction was key project of the Economic Development Cooperation Fund (EDCF) and Korea would provide US$ 500 million of EDCF loans to Pakistan under the framework agreement signed in 2019 for construction of the infrastructure in Pakistan.
The Korean ambassador expressed these views after inaugurating IT Park in Islamabad.
Federal Minister for Information Technology and Telecommunications, Syed Aminul Haque was also present on the occasion.
“Today we witness together a tangible outcome of EDCF projects. Islamabad IT Park will be a landmark in strong ties between Korea and Pakistan,” said the Korean ambassador.
Korea is ready to support Pakistan’s own IT capacity reinforcement with a long-term perspective, such as capacity building, infrastructure and technology development.
Suh Sangpyo held that the construction of Islamabad IT Park would provide a business friendly environment for Pakistani small and medium IT companies.