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OFID approves $50m loan for FATA development program

OFID approves $50m loan for FATA development program
June 30, 2017

VIENNA, 30 June: The Organization of the Petroleum Exporting Countries (OPEC,) Fund for International Development (OFID) has signed a US$50m loan agreement with Pakistan for the Reconstruction and Rehabilitation of the Federally Administered Tribal Areas (FATA).
OFID Director-General Suleiman Al-Herbish and Ambassador of Pakistan to Austria Ayesha Riyaz signed the agreement in Austria on Thursday.
The figure supports Pakistan´s agriculture, energy, education, health, transportation, industry and water supply and sanitation sectors.
With poverty levels reaching nearly 60 percent, the Pakistan government has formulated a return and rehabilitation strategy identifying the FATA region´s development needs. The strategy takes a holistic approach that focuses not only on the rehabilitation and reconstruction of damaged infrastructure but also prioritizes the restoration of livelihoods.


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