Italy, Pakistan sign debt-swap agreement: Daily Times

ISLAMABAD: Italy on Friday agreed to convert Pakistan’s $100 million debt into aid for development projects in the social sector as part of the commitments made at the donor’s conference in Tokyo earlier this year. A debt-swap agreement was signed at the Economic Affairs Division, under which the development projects would be sponsored by the federal, provincial and local governments, non-governmental organisations or channelled through the relevant UN organisation.

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