{"id":85095,"date":"2022-04-04T12:32:12","date_gmt":"2022-04-04T07:32:12","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=85095"},"modified":"2022-04-04T12:32:17","modified_gmt":"2022-04-04T07:32:17","slug":"korea-edcf-grant-usd-1-bn-infrastructure","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/korea-edcf-grant-usd-1-bn-infrastructure.html","title":{"rendered":"Korea increases EDCF grant to USD 1 bn for infrastructure development"},"content":{"rendered":"\n<p>Islamabad: Ambassador of the Republic of Korea Suh Sangpyo, on Wednesday (April 4) said the Korean government would increase Economic Development Cooperation Fund (EDCF) loans by up to USD 1 billion, \u2013 to be offered to Pakistan over five years (2022\u201326), according to news sources reported.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pakistan-south-korea-signs-mou-to-preserve-gandhara-heritage.html\" data-type=\"post\" data-id=\"80280\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan, South Korea signs MoU to preserve Gandhara heritage<\/a><\/p>\n\n\n\n<p>Previously, in 2019, Pakistan and Korea signed an agreement, under which, Korea was to provide USD 500 million of EDFC loans to support Pakistan\u2019s infrastructure development.\u00a0\u00a0<\/p>\n\n\n\n<p>Under the renewed framework, the Korean government will offer another USD 500 million for the construction of infrastructure in Pakistan. In addition, the ambassador said that the governments of both countries are working on various business opportunities and development projects, including automobile, transportation, hydropower, smartphones, and confectionery production sectors. Some of the other projects highlighted by the ambassador included:&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Collaboration in EDCF and IT Parks with the inauguration of the<a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/stza-technopolis-chak-shehzad.html\" data-type=\"post\" data-id=\"84859\" target=\"_blank\"> Islamabad Technology Park in May 2021 <\/a>Around 1,500 Pakistani students study in Korea in undergraduate and graduate programmes under the Global Korea Scholarship (GKS).<\/li><li>Self-sufficiency of virus-free potato seed multiplication and chilli production and post-harvest management technology development by Aeroponic Technique under the Korea Program on International Agriculture (KOPIA)<\/li><li>An MOU between the PMAS-Arid Agriculture University Rawalpindi and Chungbuk National University. The agreement would allow technical staff exchange for joint research and joint publication of research papers.\u00a0<\/li><li>Collaboration on the Tsunami Billion Tree initiative under the Friendship Forest programme for climate change mitigation efforts in Pakistan.\u00a0\u00a0<br><strong>Read:<\/strong> <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/korea-to-fund-water-treatment-plants-in-lahore.html\" data-type=\"post\" data-id=\"79580\" target=\"_blank\">Korea to provide funds for Lahore\u2019s water treatment plant projects<\/a><\/li><li>The Korean companies are working on Multiple hydropower projects worth USD 4 billion. These projects include K-Water, Daewoo E&amp;C, Korea Southeast Power Corporation (KOEN), DL E&amp;C, Lotte E&amp;C, Korea Hydro &amp; Nuclear Power Corporation (KHNP), Korea Overseas Infrastructure &amp; Urban Development Corporation (KIND), Lotte, Sambu Construction, Hyundai Eng., Doosan.\u00a0<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Ambassador of the Republic of Korea Suh Sangpyo, on Wednesday (April 4) said the Korean government would increase Economic Development Cooperation Fund (EDCF) loans by up to USD 1 billion, \u2013 to be offered to Pakistan over five years (2022\u201326), according to news sources reported.\u00a0 Read: Pakistan, South Korea signs MoU to preserve Gandhara heritage Previously, in 2019, Pakistan and Korea signed an agreement, under which, Korea was to provide USD 500 million of EDFC loans to support Pakistan\u2019s infrastructure development.\u00a0\u00a0 Under the renewed framework, the Korean government will offer another USD 500 million for the construction of infrastructure in Pakistan. In addition, the ambassador said that the governments of both countries are working on various business opportunities and development projects, including automobile, transportation, hydropower, smartphones, and confectionery production sectors. Some of the other projects highlighted by the ambassador included:&nbsp;&nbsp;&nbsp; Collaboration in EDCF and IT Parks with the inauguration of the Islamabad Technology Park in May 2021 Around 1,500 Pakistani students study in Korea in undergraduate and graduate programmes under the Global Korea Scholarship (GKS). Self-sufficiency of virus-free potato seed multiplication and chilli production and post-harvest management technology development by Aeroponic Technique under the Korea Program on International Agriculture&hellip;<\/p>\n","protected":false},"author":84,"featured_media":68648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20385],"tags":[51803,51802,45076],"persona":[],"class_list":{"0":"post-85095","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-development-projects","8":"tag-korea","9":"tag-korea-increases-edcf-grant-to-usd-1-bn-for-infrastructure","10":"tag-korean-bank-to-lend-usd-49-mn-for-chakdara-timergarah-road","11":"cat-20385-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Korea increases EDCF grant to USD 1 bn for infrastructure- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Ambassador of the Republic of Korea Suh Sangpyo, on Wednesday (April 4) said the Korean government would increase Economic Development\" \/>\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\/korea-edcf-grant-usd-1-bn-infrastructure.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Korea increases EDCF grant to USD 1 bn for infrastructure- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Ambassador of the Republic of Korea Suh Sangpyo, on Wednesday (April 4) said the Korean government would increase Economic Development\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/korea-edcf-grant-usd-1-bn-infrastructure.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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