The Government of Pakistan and the Government of Japan signed debt suspension agreements amounting to 367 million dollars under the G-20 Debt Service Suspension Initiative (Phase-I).

Secretary, Economic Affairs Division Noor Ahmed and Ambassador of Japan to Pakistan Kuninori Matsuda  signed these agreements in Islamabad.

On this occasion, Secretary, EAD reiterated his appreciation for the debt suspension provided by Japanese Government.

He highlighted that Japan is the 2nd largest bilateral lender to Pakistan. He also thanked the Government of Japan for its generous support for fighting against COVID-19 pandemic.

He lauded that Japan’s timely support helped Pakistan save lives and livelihoods of millions during the testing times.

He also acknowledged continued support of Japan for health, education, agriculture, infrastructure, disaster management and urban services including water supply, sanitation and waste management.

While speaking on the occasion, Ambassador Matsuda also reaffirmed Japanese support to Pakistan on issues of mutual interest. 

Both sides reiterated strong commitment towards further expanding bilateral economic cooperation.

In the wake of COVID-19, the G20 countries, together with the Paris Club creditors, announced a Debt Service Suspension Initiative (DSSI) to provide much needed fiscal space to stressed countries in order to meet their urgent economic and health needs.