Pak to receive $850 million of Kerry-Lugar aid by year end

Islamabad, Dec. 19 (ANI): Pakistan is expected to receive 850 million dollars in US aid under the Kerry-Lugar bill by the end of this year. It will include 500 million dollars as the first tranche of the KLB, and 350 million dollars from the Coalition Support Fund (CSF).

The Daily Times quoted Economic Affairs Division sources, as saying, that the Pakistan government and the US authorities had finalised the projects to be financed under the Kerry-Lugar Act, and the first disbursement under this head would be made next week.

According to the source, the government has decided to invest 200 million dollars in a trust fund, 174 million dollars to the project fund, 200 million dollars to the health and education reforms and 200 million dollars in the rehabilitation and reconstruction of Swat and Malakand.

"The projects in this fund would be aimed at improving selected sectors of the economy that have significant impact on generating employment," he said.

He added that 50 million dollars would be spent under the Kerry-Lugar Act for development in FATA, while 200 million dollars would be utilised to alleviate poverty.

"It has been acknowledged that urban centres, agriculture and small industries of Swat, Malakand and adjoining areas have been severely damaged amid efforts to eliminate the Taliban," said the official. (ANI)