Jan 18, 2022

Another loan requested from Japan, wants previous loan restructured!

According to media reports, the Ministry of Finance is in talks with Japan to obtain a new financial assistance package worth US $ 2 to 3.5 billion.

It is said that these loans are to be obtained in line with the US $ 900 million loan program to be obtained from India.

This loan is also reported to be in Japanese yen.

If Japan agrees to issue the loan, it will be issued in yen, with a minimum concessional interest rate of 0.05 percent.

It is believed that this debt relief package will likely be issued by a lending institution in Japan.

The Ministry of Finance is planning to enter into financial agreements with foreign development partners and lenders, including Japan, to contribute to this year's (2022) public investment program.

In addition to this preferential credit facility, which is similar to the Indian loan scheme, the Ministry of Finance has requested that the loans obtained from Japan be restructured.