Kuwaiti Fund Pledges $300m Soft Loan to Pakistan
A Kuwaiti fund has promised a $300 million soft loan to Pakistan to help the Asian Muslim country implement several large-scale development projects, including the greater Karachi and Quetta water supply schemes, according to the official Kuwaiti news agency, KUNA.
The Kuwait Development Fund has informed the government that $300 million will be extended to Karatchi soon, finance ministry officials told the agency.
The money will also be used to fund irrigation and land reclamation projects in the southern Sindh Province.
Officials were quoted by the agency as saying that that before Kuwait, the governments of China, Saudi Arabia, the United Arab Emirates and Oman had decided to offer Pakistan aid amounting to $250 million, $200 million, $268 million and $100 million, respectively – Albawaba.com