{"id":80988,"date":"2021-10-30T10:00:00","date_gmt":"2021-10-30T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=80988"},"modified":"2021-10-29T17:08:28","modified_gmt":"2021-10-29T12:08:28","slug":"mou-signe-debt-service-suspension","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/mou-signe-debt-service-suspension.html","title":{"rendered":"Pakistan, Germany signs MoU for debt service suspension"},"content":{"rendered":"\n<p>Islamabad: Pakistan and Germany on Thursday signed a Memorandum of Understanding (MoU) for suspension of debt service of EUR 26.213 million under the Debt Service Suspension Initiative (DSSI), according to media reports.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/pakistan-to-improve-economic-ties-with-germany-plans-to-open-consulate-in-munich.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan to improve economic ties with Germany, plans to open consulate in Munich<\/a><\/p>\n\n\n\n<p>As per the details, the agreement was signed between the Economic Affairs Division and KfW \u2013 a German development bank \u2013 on behalf of their governments. The agreement signing coincides with the upcoming celebration of 60-year cooperation between Germany and Pakistan.&nbsp;<\/p>\n\n\n\n<p>It is pertinent to mention that KfW has a portfolio of more than EUR 600 million in financial cooperation with Pakistan in different sectors including governance, <a href=\"https:\/\/www.zameen.com\/news\/germany-gilgit-baltistan.html\" target=\"_blank\" rel=\"noreferrer noopener\">climate, and energy<\/a>. It was mentioned that this agreement will provide further relief for the Pakistani government to strengthen its economy.\u00a0<\/p>\n\n\n\n<p>Previously, the Pakistan government requested a time-bound suspension of debt service in a bid to alleviate the economic, health, and social impact of the COVID-19 pandemic. In this regard, an MoU was signed on the Treatment of Debt Service in Paris in June last year. In September 2020, the German government provided a debt suspension facility via the first phase of DSSI, which totalled EUR 52.766 million.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/germany-offers-eur-12mn-for-kp-gb.html\" target=\"_blank\" rel=\"noreferrer noopener\">Germany offers EUR 12mn for KP, GB<\/a><\/p>\n\n\n\n<p>According to sources, the German government is in process of providing another debt suspension facility (DSSI Phase-3) to Pakistan.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Pakistan and Germany on Thursday signed a Memorandum of Understanding (MoU) for suspension of debt service of EUR 26.213 million under the Debt Service Suspension Initiative (DSSI), according to media reports.\u00a0 Read: Pakistan to improve economic ties with Germany, plans to open consulate in Munich As per the details, the agreement was signed between the Economic Affairs Division and KfW \u2013 a German development bank \u2013 on behalf of their governments. The agreement signing coincides with the upcoming celebration of 60-year cooperation between Germany and Pakistan.&nbsp; It is pertinent to mention that KfW has a portfolio of more than EUR 600 million in financial cooperation with Pakistan in different sectors including governance, climate, and energy. It was mentioned that this agreement will provide further relief for the Pakistani government to strengthen its economy.\u00a0 Previously, the Pakistan government requested a time-bound suspension of debt service in a bid to alleviate the economic, health, and social impact of the COVID-19 pandemic. In this regard, an MoU was signed on the Treatment of Debt Service in Paris in June last year. In September 2020, the German government provided a debt suspension facility via the first phase of DSSI, which totalled EUR 52.766&hellip;<\/p>\n","protected":false},"author":83,"featured_media":79725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[49215,49214,49213],"persona":[],"class_list":{"0":"post-80988","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-debt-service-suspension-initiative","9":"tag-mou-signed-for-suspension-of-debt-service","10":"tag-pakistan-germany-signs-mou-for-debt-service-suspension","11":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan, Germany signs MoU for debt service suspension - Zameen News<\/title>\n<meta name=\"description\" content=\"Pakistan and Germany on Thursday signed a Memorandum of Understanding (MoU) for suspension of debt service of EUR 26.213 million under the Debt Service.....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/mou-signe-debt-service-suspension.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan, Germany signs MoU for debt service suspension - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Pakistan and Germany on Thursday signed a Memorandum of Understanding (MoU) for suspension of debt service of EUR 26.213 million under the Debt Service.....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/mou-signe-debt-service-suspension.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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