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US extends $200m budget support to Pakistan
Saturday, June 16, 2007
Staff Report
ISLAMABAD: Pakistan and the US on Friday signed an agreement that provides $200 million or Rs 12.4 billion as direct budget support for Pakistans Public Sector Development Programme (PSDP) 2007-08.
The agreement is for the release of the third annual $200 instalment of the US economic assistance to support Pakistans investment in human capital. It was signed at Economic Affair Division.
State Minister for Economic Affairs Hina Rabbani Khar, Secretary Economic Affairs Akram Malik, US Charge d Affairs Peter W Bodde and United States Agency for International Development (USAID) Mission Director Anne Aarnes signed the agreement on behalf of their respective governments.
The US government is proud to continue working with the government of Pakistan in improving living standards of its citizens, said Bodde while speaking on the occasion.
Providing improved health services, creating economic and educational opportunities, supporting better governance, and ensuring basic human security for all Pakistanis is fundamental in building a solid and sustainable foundation for Pakistans continued development, he said.
He said the economic support would help Pakistan increase investment in education, healthcare, clean water and earthquake reconstruction.
The impact of this assistance was evident in financial year 2006 when the budget was noticeably increased by 55 percent in education, 19 percent in health, and 100 percent in clean water sectors compared with the previous years budget, he said.
In addition to budget support, the US AID has been providing to Pakistan, over five years, another $1.5 billion in project assistance for education, healthcare, economic growth, democracy and governance and earthquake reconstruction, he said.
This budget support is in addition to financial aid provided to other social sectors and is part of the annual grant package of $600 million.
Hina Rabbani Khar appreciated the US budgetary assistance and said that the agreement would provide approximately Rs 12.4 billion as direct budget support for the PSDP. This amount, she said, would be used to fund health, education and water and sanitation programmes besides funding the federal governments projects for reconstruction of earthquake-hit areas.
Based on Pakistans fiscal budget 2007-08, this US assistance would provide Rs 3.9 billion for education, Rs 4 billion for health, Rs 1.3 billion for clean drinking water and Rs 3.1 billion for reconstruction of earthquake-affected areas, she said.
The education funds would be allocated to social sector projects and health programmes would fight communicable disease as HIV/Aids and tuberculosis, she said, adding family planning and re-productive health, maternal and child health would also be areas of concern.
Around Rs 3.1 billion had been earmarked for Landless Compensation Policy for earthquake-affected areas, enabling approximately 24,000 affected households to buy land and build houses, she said, adding Rs 62.1 million would be allocated for a trust fund.
http://www.dailytimes.com.pk/default.asp?page=2007\06\16\story_16-6-2007_pg5_2
Saturday, June 16, 2007
Staff Report
ISLAMABAD: Pakistan and the US on Friday signed an agreement that provides $200 million or Rs 12.4 billion as direct budget support for Pakistans Public Sector Development Programme (PSDP) 2007-08.
The agreement is for the release of the third annual $200 instalment of the US economic assistance to support Pakistans investment in human capital. It was signed at Economic Affair Division.
State Minister for Economic Affairs Hina Rabbani Khar, Secretary Economic Affairs Akram Malik, US Charge d Affairs Peter W Bodde and United States Agency for International Development (USAID) Mission Director Anne Aarnes signed the agreement on behalf of their respective governments.
The US government is proud to continue working with the government of Pakistan in improving living standards of its citizens, said Bodde while speaking on the occasion.
Providing improved health services, creating economic and educational opportunities, supporting better governance, and ensuring basic human security for all Pakistanis is fundamental in building a solid and sustainable foundation for Pakistans continued development, he said.
He said the economic support would help Pakistan increase investment in education, healthcare, clean water and earthquake reconstruction.
The impact of this assistance was evident in financial year 2006 when the budget was noticeably increased by 55 percent in education, 19 percent in health, and 100 percent in clean water sectors compared with the previous years budget, he said.
In addition to budget support, the US AID has been providing to Pakistan, over five years, another $1.5 billion in project assistance for education, healthcare, economic growth, democracy and governance and earthquake reconstruction, he said.
This budget support is in addition to financial aid provided to other social sectors and is part of the annual grant package of $600 million.
Hina Rabbani Khar appreciated the US budgetary assistance and said that the agreement would provide approximately Rs 12.4 billion as direct budget support for the PSDP. This amount, she said, would be used to fund health, education and water and sanitation programmes besides funding the federal governments projects for reconstruction of earthquake-hit areas.
Based on Pakistans fiscal budget 2007-08, this US assistance would provide Rs 3.9 billion for education, Rs 4 billion for health, Rs 1.3 billion for clean drinking water and Rs 3.1 billion for reconstruction of earthquake-affected areas, she said.
The education funds would be allocated to social sector projects and health programmes would fight communicable disease as HIV/Aids and tuberculosis, she said, adding family planning and re-productive health, maternal and child health would also be areas of concern.
Around Rs 3.1 billion had been earmarked for Landless Compensation Policy for earthquake-affected areas, enabling approximately 24,000 affected households to buy land and build houses, she said, adding Rs 62.1 million would be allocated for a trust fund.
http://www.dailytimes.com.pk/default.asp?page=2007\06\16\story_16-6-2007_pg5_2
