Pakistan, France ink deal to suspend repayment of $107mn loan for 6 years
Business
Pakistan, France ink deal to suspend repayment of $107mn loan for 6 years
ISLAMABAD (Dunya News) – Pakistan has signed an agreement with France to get a suspension of loans worth $107 million for six years under the G-20 Debt Service Suspension Initiative (DSSI) framework.
The Economic Affairs Division has issued a formal deceleration of the agreement.
The agreement was signed by Federal Secretary for Economic Affairs Division Mian Asad Hayaud Din and H.E. Nicolas Galey, the Ambassador of the French Republic to Pakistan in Islamabad.
Under the agreement, the amount, initially repayable between July-Dec, 2021 will now be repaid over a period of six years including one-year grace period in semi-annual installments.
