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Foreign Affairs | Pakistan gets $5.28 bn for economy, security

Foreign Affairs | Pakistan gets $5.28 bn for economy, security
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First Published: Fri, Apr 17 2009. 11 59 PM IST
Updated: Fri, Apr 17 2009. 11 59 PM IST
Tokyo: Pakistan won pledges for $5.28 billion in aid from at least 20 countries to help shore up an ailing economy and combat Al Qaeda and Taliban militants along its border with Afghanistan.
Today’s commitment will enhance Pakistan’s capacity to fight terrorism and give us an ability to strengthen civic institutions that have weakened over the years, Pakistan’s foreign minister Shah Mahmood Qureshi said after a donor conference in Tokyo on Friday.
The funds, to be spread over two years, will help the nation at a crucial moment, Japan’s Prime Minister Taro Aso said. Donor nations also reaffirmed commitments of at least $15 billion for projects to reduce poverty and boost growth. The biggest donors were the US and Japan, which gave $1 billion each, and Saudi Arabia with $700 million, said World Bank vice-president Isabel Guerrero.
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First Published: Fri, Apr 17 2009. 11 59 PM IST
More Topics: Pakistan | Aid | Economy | Al Qaeda | Taliban |