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ISLAMABAD: The World
Bank will provide an interest-free credit of $55 million to
Pakistan for a public sector capacity building project.
The World Bank and Pakistan government have signed an
agreement to the effect. Pakistan’s Economic Affairs Division
Secretary Dr Waqar Masood, and World Bank’s Country Director
in Pakistan John W. Wall inked the agreement.
The maturity period of the credit is 35 years having a grace
period of 10 years, the statement said.
The Pakistan government will pay only commitment charges at
0.5 per cent and services charges at 0.75 per cent per annum.
The purpose of the project is to enhance the capacity of the
government officials for carrying out the ongoing economic
reform programme.
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