IT Park in the Offing: Pakistan, Korean Bank Sign Loan Agreement

(APP): The Government of Pakistan and Korean Exim Bank signed a loan agreement on Tuesday for a new information technology park in the federal capital. The total project cost is $88.383 million, including loan of $76.3 million from Korean Exim Bank under the Economic Development Cooperation Framework (EDCF) arrangement.

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Secretary to Economic Affairs Division (EAD) Tariq Mahmood Pasha and Executive Director of Korean Exim Bank Younghoon Chang signed the document. The loan signing ceremony was witnessed by Minister for Finance Senator Ishaq Dar and Minister of State for IT and Telecom Anusha Rahman.

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Korean ambassador in Pakistan, Dr Dong-gu Suh, senior officials from Korea Exim Bank, Ministry of Finance, Ministry of IT, Pakistan Software Export Board (PSEB), and Economic Affairs Division (EAD) were also present. Finance Minister Ishaq Dar on the occasion welcomed the agreement for IT Park Project and thanked Korean Government for their continued support.