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Under the Agreement, the World Bank committed the amount to support
Government of Pakistan in the implementation of the NTCIP, and also to
strengthen the institutional arrangements for NTCIP.
The agreement was signed by Farrakh Qayyum, Secretary Economic Affairs Division
on behalf of the Government of Pakistan and Yusupha B. Crookes, Country
Director, World Bank on behalf of the World Bank.
The objective of the Project is to improve the performance of Pakistan’s trade
and transport logistics by facilitating the implementation of the National Trade
Corridor Improvement Programme (NTCIP) and the simplification and modernization
of the Pakistan’s international trade practices and procedures.
The project will be implemented by the National Trade Corridor Management Unit (NTCMU)
in the Planning Commission; and the Trade and Transport Facilitation Unit (TTFU)
in the Ministry of Commerce and Trade.
The Project closing date is December 31, 2013. The committed amount is a soft
loan and the Government of Pakistan will repay the credit in 35 years including
10 years of grace period. |
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