US to provide Rs 19b for economic and political reforms in Pakistan

US to provide Rs 19b for economic and political reforms in Pakistan

Islamabad (Web Desk): The United States of America is providing an additional Rs 19 billion in order to create economic opportunities and pursue economic and political reforms that promote prosperity in Pakistan.

According to details provided by the sources, the additional funds will be used for development of Pakistan through an amendment to the Pakistan Enhanced Partnership Agreement signed recently by the US Agency for International Development (USAID) and the Ministry of Finance.

This agreement is to support the USAID programs that were developed in consultation with the Pakistani government and support the Government of Pakistan’s Vision 2025, which sets forth a roadmap for a prosperous Pakistan.

The agreement reassures the U.S. Government’s commitment to continue its engagement with Pakistan through bilateral cooperation and robust civilian and security assistance.  The additional funding will enable the U.S. and Pakistan to work jointly on issues that are important to both countries:  energy, economic growth, stability, governance, education, and health.

Between 2005 and 2016, the United States, through USAID, has provided nearly Rs 840 billion for development in Pakistan, making the country one of America’s largest recipients of foreign assistance. the Finance Ministry hoped that this cooperation will further increase in future and funds will be utilized for the betterment of Pakistani people.