"In 2020, the volume of the bilateral trade amounted to 1.3 billion Euro, with Pakistan exports to France reaching 930 million Euros and French exports to Pakistan nearly 319 million Euros"
Ambassador of France in Pakistan Marc Barety and country director of the French Agency for Development (AFD) signed the credit financing agreement with Secretary for Economic Affairs Division Noor Ahmed in Islamabad to co-finance with the Asian Development Bank, Asian Infrastructure Investment Bank and Green Climate Fund.
The Red Line is proposed to connect with the Green Line, currently under construction, at the Numaish station for a seamless and connected operation. The Red Line services will then continue on the shared common corridor from the Numaish station till Merewether Tower.
The soft loan of Rs12.3bn for the project shows that the substantial financial effort made by the development agencies is aimed for a higher impact on people's livelihoods. It will be one of the very first collaborative operations for AIIB and GCF in Pakistan on urban development, a French embassy press release states.
In Karachi, Pakistan, AFD is supporting the Aga Khan University Hospital expand its campus and increase hospital capacity, in addition to making quality healthcare more accessible to disadvantaged patients. AFD’s contribution to this project will significantly reduce the hospital’s environment impact by avoiding 26,000 tonnes of CO2 equivalent every year.
PARIS, OCT 9 – Pakistan has huge potential in the field of agriculture and agri-products and the country welcomed French investment, technology and expertise, in a mutually beneficial way.
This was stated by Federal Minister for National Food Security and Research, Fakhar Imam in a webinar on the agriculture sector of Pakistan in which 25 French companies participated.
The webinar was organized by the largest business federation of France, MEDEF in cooperation with the Embassy of Pakistan, Paris.
Planning Commission approved the COVID-19 health emergency response project for which the financing was provided by the AFD (Agency Francaise de Development). The project was approved at a cost of USD 20 Million.
The AFD funds for the health project will be utilized for effective, and efficient COVID19 case management, up gradation of existing health facilities or setting up new facilities where needed, and strengthening capacity of the health workforce. The funds will also be used for strengthening of the health management systems i.e. inventory control, disease surveillance, standard protocols, etc, as well as provision of equipment to meet the national requirements.
Islamabad: 11 February 2020: In order to diversify the energy-mix of country, the Government of Pakistan (GoP) is encouraging development of hydro potential to produce clean, green and affordable electricity. These efforts further supplemented by signing two Agreements today between the Government of Pakistan, the Agence Française De Développement (AFD), France and the Private Power and Infrastructure Board (PPIB). The Financing Agreement was signed between Economic Affairs Division (EAD) and AFD while the Project Agreement signed between Private Power and Infrastructure Board (PPIB) and AFD. From EAD side Dr. Syed Pervaiz Abbas, Secretary while from PPIB Mr. Shah Jahan Mirza Managing Director signed the documents respectively while from AFD, Mr. Philippe Steinmetz, Director AFD Pakistan signed both Financing and Project Agreements. The signings were witnessed by high officials of EAD, PPIB and AFD. The Honorable Ambassador of France to Pakistan His Excellency Mr. Marc Baréty witnessed the ceremony and co-signed the Financing Agreement..
AFD will provide a soft loan for the project for a period of 20 years including a grace period of 6 years at interest rate of 6-month Euribor with a spread of 52 basis points. Groundwater quality of Faisalabad city is brackish. The proposed project will augment Faisalabad Water and Sanitation agency capacity to provide 30 MGD of additional clean drinking water to citizens of Faisalabad through surface water treatment plant. France through the French Agency for Development is providing technical and financial support in energy and urban development sector in Pakistan. This project is AFD’s first investment in water and sanitation sector opening avenues for more collaboration with government of Pakistan.
Mr. Noor Ahmed, Secretary of Economic Affairs Division (EAD), H.E. Marc Barety, Ambassador of France, and Mr. Jacky Amprou, Country Director of the French Agency for Development (AFD), signed the Credit Facility Agreement worth Euros 50 million and the Grant Agreement worth 0.2 million Euros to finance the Rehabilitation of Chitral and Dargai Hydel Power Stations. Mr. Muhammad Arshad Chaudhry, Member (Power) WAPDA and other officers were also present on the occasion.
This funding will allow the modernization of the two hydel power stations and upgrading of their generation capacity from 20 MW to 22 MW for Dargai Hydel Power Station and from 1 MW to 5 MW for Chitral Hydel Power Station. This will provide adequate facilities for the generation, transmission, and distribution of energy to meet current and future needs of Chitral and Malakand regions. This will also result in industrial, agricultural and economic development of these regions. Besides, rehabilitation and up-gradation of the said hydel power stations will contribute to the Government of Pakistan’s strategy to develop green energy, reduce green house gasses emission which is very much aligned with French Government’s agenda of promoting climate friendly projects.
The Aga Khan University Hospital in Karachi is Pakistan's most renowned health facility and plays a decisive social role in improving and providing access to health care. This project will finance the University Hospital extension project's environmental and social infrastructure.
The university hospital expansion programme requires US $ 16 million for investments in infrastructure and equipment related to energy efficiency, securing power supply and the incineration of biomedical waste, to which AFD funding will be allocated.
Business France and Board of Investment (BOI) of Pakistan signed a Memorandum of Understanding (MoU) to promote bilateral cooperation in trade, investment and business between Pakistan and France.
The agreement was signed by the Ambassador of Pakistan to France Moinul Haque on behalf of Board of Investment (BOI) of Pakistan and Christophe Lecourtier, Chief Executive Officer of Business France in a special signing ceremony held at the headquarter of Business France in Paris.
The signing of MoU was witnessed by the French government officials, officers of the Business France and Embassy of Pakistan, members of French civil society and media.
Pascal Allizard, Senator of Calvados, President of the France-Pakistan Friendship Group and Vice-President of the Committee on Foreign Affairs, Defense and Armed Forces, accompanied by his colleagues from the friendship group, Mrs. Gisèle Jourda, Senator of Aude, also a member of the Committee on Foreign Affairs and Mrs. Chantal Deseyne, Senator of Eure-et-Loire, paid a visit to Pakistan from April 24th to 27th, 2019. The delegation travelled successively to Islamabad, Karachi and Gwadar.
During their stay in Islamabad, the senators met high level Pakistani authorities : Chairman Senate, Mr. Sadiq Sanjrani, Speaker of the National Assembly, Mr. Asad Qaiser, Secretary General of the Ministry of Foreign Affairs, Mr. Sohail Mahmood, the President of the Pakistan-France Friendship Group, Senator Faisal Javed together with its members, the Chairman of the Defense Production Committee, Senator Abdul Qayyum. These talks were an opportunity for both the Pakistani authorities and the French delegation to highlight the dynamism of France-Pakistan inter-parliamentary relations and to call for bilateral exchanges to develop.
French Ambassador to Pakistan H.E. Marc Barety says French companies will be visiting Pakistan soon to explore ways and means to invest in different sectors.
A delegation of French businessmen called on Prime Minister Imran Khan in Islamabad on Monday and discussed investment and business opportunities in Pakistan.
The delegation evinced keen interest in investing in various sectors including manufacturing sector, agriculture, and energy.
The Prime Minister welcomed the interest of delegation and highlighted Pakistan's investment potential and business friendly policies.
He highlighted the potential of agriculture, tourism, industry, and Special Economic Zones.
Imran Khan emphasized on the steps taken to reduce cost of doing businesses and improving ease of doing business in the country.
MEDEF is the largest association of French entrepreneurs having 750,000 members.