Japan on Monday pledged around US $20 million (2 billion Japanese Yen) Non-Project Grant Aid (NPGA) to Pakistan for budgetary support. The notes for the NPGA were duly signed and exchanged between Chihiro Atsumi, Ambassador of Japan to Pakistan and Farrukh Qayyum, Secretary, Economic Affairs Division (EAD) here.
Addressing the signing ceremony, Chihiro Atsumi, Ambassador of Japan said that NPGA will be utilised for importing commodities and machinery such as oil, medicine, fertiliser, and tractors etc, which are necessary for economic and social uplift. He also said that government of Pakistan could use it for the internally displaced persons (IDPs).
"The Government of Pakistan will deposit all the proceeds from sale and lease of these commodities and machinery in Pakistani currency in "Counter Value Fund" expected to be utilised for economic and social development in Pakistan, Chihiro Atsumi said.
He said that NPGA is an important assistance that can be delivered quickly, and represents the long term commitment of the Japanese government for the development of Pakistan as well as the stability of the region. He said that Japan had also hosted Friends of Pakistan meeting and also announced one billion dollars for Pakistan that would be in shape of soft loan and grant. He said that it depends on Pakistan where to use the amount, announced in FOP meeting.
Farrukh Qayyum, Secretary, Economic Affairs Division (EAD) said that Japan has been a partner for development in Pakistan, and it had always supported in hour of need. He thanked the Japanese government for hosting the FOP meeting, which according to him was a remarkable success. He said that the pledged grant of $20 million by Japan would be available for budgetary support, and it would be used for the projects where the budget of Pakistan had no space.
He said that government of Japan would disburse the grant within next two to three weeks. He also said that Pakistan values government of Japan's assistance in the fields of education, health, energy, environment, disaster management in general and for this grant in particular. Farrukh Qayyum noted that assistance by Japan has played a key role in the development of our social sector with specific focus on human resource development and poverty reduction.