Japan extend Pakistan US$65mln soft loan for polio eradication

Islamabad, August 15, 2011 (PPI): Japan will extend to Pakistan US$65 million (4.993bln Yen) soft loan for polio eradication in the country.

It will be utilized to procure 165 million doses of oral polio vaccines and raise allowance of vaccinators for polio eradication campaign. Loan is on concessionary terms having 0.01% annual interest rate, 40 years repayment period including grace period of 10 years. Notes were signed and exchanged between Japan’s Ambassador Hiroshi Oe & Secretary Economic Affairs Abdul Wajid Rana here Monday at ceremony.

Hiroshi said this assistance will help alleviate suffering of children. Japan taken part in this important endeavor to realize polio-free Pakistan. He hoped vaccine will also reach children in most inaccessible areas, especially around border with Afghanistan where there were outbreaks of polio.

He said if project achieves expected result, third party will take over loan repayment from Pakistan government and loan assistance could then become virtual grant aid for Pakistan.

Following this yen loan project, Japan is preparing for additional assistance for polio eradication with further technical cooperation and grant aid.

Hiroshi said systematically mobilizing all three schemes of Japan’s ODA, Japan will support noble attempt to completely eliminate polio from Pakistan in near future based on National Emergency Action Plan 2011. Japan focused on polio eradication, which is indeed a global challenge on public health. From 1996 to 2010, Japan provided about $87 millionin total for oral polio vaccines procurement in collaboration with UNICEF, aimed to wipe out polio from Pakistan. Japan sent experts for expansion of routine immunization since 2006.

He said Japan’s commitment to provide further support for health including polio initiative was given limelight in joint statement on Japan-Pakistan comprehensive partnership issued during President Asif Ali Zardari’s visit to Japan in February, 2011. He lauded dedication of vaccinators, community-based health workers, volunteers, relevant staff who visit homes in challenging areas.

Secretary Economic Affairs Wajid Rana thanked Japan’s government for timely assistance for polio eradication and hoped it will continue its support to Pakistan in health sector.