US to provide additional Rs 19bln to create economic opportunities in Pakistan

The United States is providing an additional Rs 19 billion to create economic opportunities and pursue economic and political reforms that promote prosperity in Pakistan.

The additional funds will be obligated for development in Pakistan through an amendment to the Pakistan Enhanced Partnership Agreement signed recently by the U.S. Agency for International Development (USAID) and the Ministry of Finance, said a statement issued here on Tuesday.

The USAID programs to be supported through this agreement were developed in consultation with the Pakistani government and support the Government of Pakistan's Vision 2025, which sets forth a roadmap for a prosperous Pakistan.

The agreement reaffirms the U.S. Government's commitment to continue its engagement with Pakistan through bilateral cooperation and robust civilian and security assistance.

The additional funding will enable the U.S. and Pakistan to work jointly on issues that are important to both countries: energy, economic growth, stability, governance, education, and health.

Between 2005 and 2016, the United States, through USAID, has provided nearly Rs 840 billion of development funds to Pakistan, making the country one of America's largest recipients of foreign assistance.