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Germany Offers Euro 22.23 million Loan for Pakistan's Hydro-power project
Saudi Press Agency Published in Saudi Press Agency on 07 - 10 - 2004

Germany has offered Pakistan a soft loan of Euro 22.23 million for development of a medium size hydropower project, according to an official statement.
The loan carries an interest rate of 0.75% with repayment period of 40 years, including a grace period of 10 years.
In this connection, a financial cooperation agreement has been concluded between Pakistan and Germany.
Pakistan's Economic Affairs Division Secretary Dr Waqar Masood and German Ambassador in Pakistan Dr. Christoph Brummer signed the loan agreement.

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