Japan likely to provide $478m ODA assistance

ISLAMABAD—Japan has indicated ODA assistance of US $ 478 million for the year 2007-08. Japan and Pakistan held in-depth deliberations to increase the bilateral cooperation, especially Japanese assistance to Pakistan. The two sides also discussed ways and means to encourage Japanese investment in the country.
Seiji Kojima, Ambassador of Japan in a meeting with Senator Ishaq Dar, Finance Minister here Friday afternoon reviewed overall economic cooperation, discussed ODA assistance, Grant assistance, Non-project grant assistance and the role of JICA for bridging the gap between the two peoples.
The two sides also discussed high level policy dialogue 2008 in Tokyo, and forthcoming deliberation on Aid and its Effectiveness at Accra Forum and Japan's role as a leading development partner of Asian countries.
Pakistan appreciated Japan's non-project grant assistance of US $ 6 million for the development of FATA. Japan has indicated ODA assistance of US $ 478 million for the year 2007-08. The two sides agreed that at mutually convenient dates both would sign and Exchange the Notes and identify projects to be financed under this facility. Finalization of US $ 92.6 million Grant Assistance for seven new projects was also discussed.
The role of JICA in promoting cooperation to engage Japanese experts and volunteers was emphasized. JICA, it was observed has played an important role in human resource development through capacity building courses. It was hoped that the JICA would help Pakistan to meet its training needs for capacity building, research to increase out put in agriculture, livestock, fisheries, biotechnology, horticulture and seafood.
Pakistan sought Japanese assistance to increase ODA volume over the medium term, diversify economic assistance, explore new areas of cooperation including renewable energy. Pakistan also evinced interest in charting new country assistance strategy and enhanced Japanese support for human development projects. It may be recalled that since 1961, cumulative Japanese assistance to Pakistan comes to around US $ 5.7 billion. Its annual assistance averages to US $ 200 million inclusive of grant and loans.—Agencies