Pakistan and Saudi Arabia signed an Additional Loan Agreement of $100 Million for Neelum Jhelum Hydropower Project (NJHP).
The Kingdom has already been co-financing the Project with an amount of 81 Million dollars.
The Agreement was signed at a ceremony in Islamabad Thursday by Managing Director of the Saudi Fund for Development Yousef Ibrahim al-Bassam‚ and Secretary Economic Affairs Nargis Sethi. Saudi Ambassador to Pakistan Abdul Aziz Ibrahim Al Ghadeer attended the signing ceremony.
On this occasion‚ the Managing Director of Saudi Fund also announced a grant of 100 Million dollars for health and education in Pakistan.
Speaking on the occasion‚ the Secretary Economic Affairs highlighted the present government's development agenda and its serious endeavours to bring socio-economic development by undertaking people oriented policies.
Eng. Yousef Ibrahim al-Bassam expressed the commitment of the Kingdom for the progress and development of people of Pakistan.