Special envoys have left for China and Japan to hasten the development of Ibrahim Nasir International Airport.
The emissaries are Economic Minister Mohamed Saeed, State Minister of Finace, Ahmed Munawar and Foreign Secretary Ali Naseer.
Speaking from the airport before the flight, Economic Minister Saeed said they would meet with Japan Bank of International Cooperation and the Exim Bank of China to hasten the loan for the airport development. He said the process of acquiring the loan is ongoing and the purpose of the visit is to speed up the process.
“The loan is at an advance stage already. JBIC (Japan Bank of International Cooperation) is at the final stages of the loan. Likewise, the Exim of China is also at the final stage. Saeed said.
Saeed said they are acquiring about 400 million US dollars from the Japanese bank and an amount between 300 and 400 million from Exim.
Thought he did not say the interest rate directly, Saeed said the interest rate on the loans are very low.
The Economic Council has previously stated that they would start the airport development work later this year.