Saudi Arabia finances 800-bed King Salman Hospital costing $135 million in Zambia    Maximum fine of SR100000 for intentionally blocking or obstructing public road    Saudi Arabia arrests 23,194 illegal residents in a week    Lulu opens its first store in Makkah    Kremlin denies plans for Ukrainian peace talks    UN official warns of freezing deaths among Gaza children    Germany to open first anti-Muslim racism reporting center    Al-Hamddan's heroics send Saudi Arabia into Gulf Cup semi-finals    Saudi Arabia strongly condemns burning of Gaza hospital by Israeli forces    Saudi-Turkish Military Committee discusses ways to enhance defense cooperation    Kuwait advances to semi-finals after thrilling draw with Qatar    Two die in Sydney to Hobart yacht race    Lulu Retail expands in Saudi Arabia with two new stores    Saudi Arabia to host Gulf Cup 27 in Riyadh in 2026    Celebrated Indian author MT Vasudevan Nair dies at 91    RCU launches women's football development project    Financial gain: Saudi Arabia's banking transformation is delivering a wealth of benefits, to the Kingdom and beyond    Blake Lively's claims put spotlight on 'hostile' Hollywood tactics    Five things everyone should know about smoking    Do cigarettes belong in a museum    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Pakistan and DFID Sign MoU
Published in Saudi Press Agency on 14 - 03 - 2006


Pakistan and UK Department for
International Development (DFID) have signed a Memorandum of Understanding (MoU) for Britain's budgetary support of Pound Sterling 80 Million to Pakistan for Poverty Reduction Budget Support up to the year 2008.
Economic Affairs Division Secretary Khalid Saeed and Dr.Nemat Shafik, Director General, Regional Programmes, DFID, inked the MoU on behalf their respective governments.
According to the understanding DFID will provide an assistance of Pound Sterling 80 million as grant support to the Government of Pakistan to implement Pakistan Poverty Reduction Strategy.
This support will stretch over a period of three years, starting from 2006 to 2008 with an annual tranche of Pound 20 million each.
Two supplementary grants of Pound 10 million each would also be paid
alongside the second and third annual tranches.
The first yearly tranche of Pound 20 million will be disbursed during the next month.
In addition, Pound 5 million will be made available for Technical Assistance in support of the World Bank's Poverty Reduction Support Credit, which will be managed by the World Bank in consultation with the Pakistan government and DFID.
This agreed amount will be used to reduce poverty in Pakistan.
The purpose of this programme of budget support and Technical Assistance is to increase the amount and effectiveness of funds for poverty reduction, and achieving the Millennium Development Goals (MDGs).
This programme will contribute to financing and further developing the capacity of the Government of Pakistan to implement its Poverty Reduction Support Programme (PRSP) in order to achieve the targets set out in the MDGs for the purpose.
-end-
11 46 Local Time
08 46 GMT


Clic here to read the story from its source.