Under the Economic Development Cooperation Fund, Pakistan and Korea inked a billion-dollar agreement for a variety of development initiatives.
According to local media reports, the deal was inked by Economy Minister Mian Asad Hayaud Din and ROK Ambassador Suh Sangpyo.
The ceremony was also attended by Federal Economics Minister Sardar Ayaz Sadiq and other prominent authorities.
Federal and state governments will submit financing applications to the Economics Department for initiatives that would benefit residents.
The Korean Ambassador paved the path for a deal, and the Minister and Secretary EAD praised the Republic of Korea for its unwavering support for Islamabad.
South Korea has pledged financing for IT, health, communication, electricity, and agriculture initiatives, according to a statement.
The minister and the EAD Secretary thanked the Korean ambassador for opening the ground for a deal, and praised the Republic of Korea for its unwavering support for Islamabad.
Seoul and Islamabad have long had warm relations, according to the minister, and Korea wants to take their bilateral relations to new heights.
According to local press reports, the agreement was signed by Mian Asad Hayaud Din, Secretary of the Ministry of Economic Affairs, and Suh Sangpyo, Ambassador of the Republic of Korea. Sardar Ayaz Sadiq, the Federal Minister for Economic Affairs, was also in attendance, as were other top officials.
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