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Introduction  Through the five-year Pakistan-Italy Debt-for-development Swap Agreement, signed in 2006, Pakistan’s debt to Italy, which has been consolidated through an earlier agreement and scheduled for cancellation by the Government of Italy in exchange for funding of jointly-agreed development projects, is approximately US$100 million.  The consolidated amount was credited in 5 equal tranches, from 2007 to 2011, to a Counterpart Fund (CF) account opened by the Government of Pakistan in the National Bank of Pakistan.  Upon disbursement of funds from the CF for development projects, the equivalent amount is cancelled from the debt.  Eligible projects aim at promoting social and economic development and/or environmental protection within Pakistan, via any of the following sectors: health, education, infrastructure, rural development and/or poverty alleviation.  The remaining balance of the CF shall be converted into Euros and repaid to the Government of Italy within 30 days of 30 June 2014, except in the instance of a mutually agreed extension. 1


Payment Schedule Amount (PKR million)

Tranche

Date of Payment

1

30.06.2007

1,279

2

30.06.2008

1,626

3

30.06.2009

1,778

4

30.06.2010

1,684

5

30.06.2011

1,909

Grand Total

8,276

2


Portfolio of Implementing Partners Implementing Partner

Amount allocated (PKR million)

Public sector

5,365 1,730

Italian NGOs NGOs and non-Italian INGOs Sub Total TSU expenses (current allocation per PC-1)*

Unallocated GRAND TOTAL

3

Amount allocated (%) 64.8% 21%

941

11.37%

8,036

97.17%

60

0.7%

180

2.17%

8,276

100%

• PC-1 is an application submitted for approval to the Planning Commission of Pakistan which details an initial plan of operations to be executed under supervision of a governmental department whose staff is temporarily assembled for the task.


(Amounts are in PKR millions)

Punjab

Sindh

Developme nt Projects 1493.24 196.47

Post-flood

KP

Azad Jammu & GilgitFATA Balochistan Kashmir Baltistan Shared

Total

1,233

700

491.640

99.9

1,018

579

5,449.6

500

700

470

--

555

--

--

--

2,225

TOTAL

1,993.24

896.5

1,703

700

1,046

99.9

1,018

579

8036

TOTAL (as %)

24.8%

11.1%

21.1%

8.7%

13%

1%

12.66%

7.2%

100%

4


Sust Karimabad

Locations of PIDSA-funded projects

GILGIT

Chitral Kalam Drosh

Kwazakhela

Dir

Naran S-3

Kohala

-1

ISLAMABAD

N -5

Bannu

Kharian M-2

AM CH N

Pindi Bhattian Dera Ismail Khan -3 M Malana

Mughal Kot Zhob

Faisalabad

Qila Saifullah

Retra M

Kuchlak

Multan

D. G. Khan

Loralai

QUETTA Sibi

Dalbandin

Kalat

d Mura Dera i Jamal

Surab Basima Nag -8 MM

K

Dadu Hoshab

Awaran

Bela

Moro

Sehwan Hala

M-7 Uthal Liari

Jiwani

Pasni

Ormara

Sukkur

Kotri Kabir

panjgur Turbat

Ubauro

hi LaK

05 N-1

r ka ak

Rahimyar Khan

r pu kar Sh i

Jacobabad Ratodero

Khuzdar Wad

Rajanpur

Nuttal

M-10

Hyderabad M-9

Kotri

Gharo Thatta Keti Bander

Khokropar Umerkot Islam Kot

LAHOR E

Okara

Mianchannu Khanewal

Lodhran Bahawalpur

Dadhar Nok Kundi

-4

argarh Muzaaff

Mastung Nushki

Wazirabad E3

Sarai Gambila

A

Murree

N-75

Rawalpindi

hat Ko

M

Chakoti

Muzaffarabad

Mansehra PESHAWAR M Nowshera

Skardu

Jalkhad

N15

Chakdara

Chilas

Dasu

Besham

Malakand

Parachinar

S-1

Sazin

(Disputed Territory)


OWNERSHIP ALIGNMENT Adoption of Pakistani rules and procedures

Jointly administered by the Governments of Pakistan and Italy, via the EAD and the Embassy of Italy

AID EFFECTIVENESS 6

MUTUAL ACCOUNTABILITY Joint monitoring & evaluation


7


Sector-wise Allocations

8 billion

8


9


10


11


12


13


Thank you 14


Presentation on the Pak-Italy Debt Swap Program