Updated on
Summary South Korea has assured $ 300 million development assistance to Pakistan.
South Korea has assured Pakistan of its full support on the timely completion of development and social projects amounting $ 300 million.A meeting was held in Economic Affairs Division on June 15, 2012 to review implementation of projects being implemented through Korean assistance.The progress of all development projects being implemented in Pakistan through Korean Assistance were reviewed in the meeting. Similarly the projects, for which Korean Assistance is expected shortly, were also reviewed minutely. Both side expressed satisfaction with regard to Korean Development Assistance for the following projects that includes GEPCO Sub Station for Rural Distribution construction project which is being implemented with Korean assistance to the tune of US$ 45 M.Construction of Malakand Tunnel Project for which a Korean assistance of US$ 78 M is being negotiated, establishment of Center of Excellence in Information Technology at Islamabad which is being implemented under KOICA’s grant assistance of US$ 5 M and National Capacity Building institute for Water Quality Management (PCRWR) for which the government of Korea has committed a grant of US$ 3.0 M.Apart from Development projects, Korean Assistance for Capacity Building of Pakistani Civil Servants was also reviewed. The Korean Ambassador offered that if Government of Pakistan desired tailor made Capacity Building Courses for its officers, the Republic of Korea will come forward with a helping hand. Similarly, the Korean Ambassador also offered that Korean Development Model can be introduced at university level for the purpose of benefiting the Pakistani development researchers to find good lessons.The meeting was informed that Korean government attaches a great importance to the Government of Pakistan and is desirous to develop strategic economic development relations and in order to formulate country specific development strategy which currently Republic of Korea has with 24 countries of the world, soon a high level Technical Team will visit Pakistan to negotiate the specific possibilities.The meeting was chaired by Dr. Waqar Masood Khan, Secretary, EAD. Choong joo CHOI, Ambassador of the Embassy of Republic of Korea was also present along with his team.Secretary EAD appreciated the Korean assistance and noted with satisfaction that not only the quantum of bilateral cooperation has increased over a short period of time but its scope has also enhanced.Secretary, EAD also appreciated the sincerity of the Government of the Republic of Korea and assured the visiting dignitaries that Pakistan will reciprocate the initiative with matching sincerity and warmth.The meeting ended on a note of thanks from the Secretary, EAD with a common understanding that such review sessions will continue as well.
