Japan extends ODA Funds to Pakistan for four development projects

ISLAMABAD: Pakistan and the Japan Bank of International Cooperation here on Saturday inked an agreement under which the JBIC will extend an Official Development Assistance (ODA) to the tune of 47.973 billion yen or approx US $ 478 million to Pakistan for four development projects.

Junaid Iqbal Chudhry, Additional Secretary-Economic Affairs Division and Tomoharu Otake, Chief Representative, JBIC signed on behalf on their respective governments here at the Ministry of EAD this afternoon.

The four development projects are:East-West Road Improvement (N-70) (i), Punjab Transmission and Grid Station Projects (i), Punjab Irrigation System Improvement Project and Rural Roads Construction Project (ii) (Sindh).

Under the agreement,the Punjab Transmission Lines and Grid Stations Project (I) aims at improvement of the transmission lines and Grid stations in Shalamar, Lahore and Rahim Yar Khan.

It seeks to ensure stable power supply to Punjab by construction new or additional facilities of 500KV and 220KV of transmission lines and 500kV and 220kV Grid Stations.

The Punjab Irrigation System Improvement Project aims to improve agricultural productivity by rehabilitating the irrigation system, better water resource management, improving irrigation service and establishing of farmers.