ISLAMABAD, 27 February 2005 — Eritrean President Isaias Afeworki met Prime Minister Shaukat Aziz at the Prime Minister’s house in Islamabad yesterday. The two leaders discussed various issues at the meeting especially joint co-operation in the economic sector and bilateral relations.
Shaukat Aziz greeted the Eritrean President as he arrived at the Prime Minister’s House. The delegations of both countries talked about increasing bilateral economic co-operation in different sectors. The prime minister thanked the Eritrean president for his support on the Kashmir issue. After the talks the prime minister hosted a banquet in honor of the Eritrean president.
Meanwhile, Prime Minister Aziz yesterday said the government’s timely relief to the people affected by heavy rains, floods and snowfall has started to mitigate their sufferings and more help was on the way.
He was talking to Minister of State for Water and Power Amir Muqam and MNAs Begum Mehnaz Rafi, Sardar Shah Jehan Yousaf and Malik Zaheer Abbas Khokhar in separate meetings. The prime minister said the government was mobilizing all its resources for the relief and rehabilitation of the affected people.
With the clearing of roads, the relief work in the affected areas would be expedited, he said. Prime Minister Aziz said that improving quality of life of the common man was the priority of the government.
Pakistan to Get $1bn ADB Loan Per Year
The Asian Development Bank will introduce a new five-year loan program for Pakistan and other member countries from 2006.
Pakistan is expected to receive about $1 billion loan per year from the bank under the new program, ADB Country Director Marshuk Shah said.
“The existing lending program will expire by December 2005, and the ADB will start a new plan for a five-year period, to be implemented from January 2006 to 2010,” he said, and added the annual lending of the bank is based on the calendar year.
Shah said the bank is increasing the amount of highly concessional loans for Pakistan gradually. He said in 2004, the ADB provided $228 million soft loans, which did not involve any mark-up, but only less than one percent service charges.
“In 2005, the bank has decided to increase soft loans for Pakistan to nearly $350 million out of a total plan of $800 million for different projects.” He said the bank would enhance the quantum of interest-free or soft-term loans in future, but further increase in soft loans for Pakistan in the upcoming program would depend on the availability of funds with the ADB.
