ISLAMABAD: The Government of Pakistan on Monday signed suspension of loans worth USD 107 million with France, under the G-20 Debt Service Suspension Initiative (DSSI) framework.
The Government of Pakistan has signed a Debt Service Suspension Agreement with the French Republic, amounting to suspension of loans worth USD 107 million, under the G-20 DSSI framework.
This amount, initially repayable between July and December 2021 will now be repaid over a period of six years (including one-year grace period) in semi-annual installments.
The agreement was signed by Mian Asad Hayaud Din, Federal Secretary for Economic Affairs Division and H.E. Nicolas Galey, the Ambassador of the French Republic to Pakistan in Islamabad on Monday.
The GOP has already signed agreements with the French Republic for suspension of USD 261 million.
Due to the support extended by the development partners of Pakistan, the G-20 DSSI has provided the fiscal space which was necessary to deal with the urgent health and economic needs of the Islamic Republic of Pakistan.
APP