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Agreement on debt for development swap between the Government of the Italian Republic and the Government of the Islamic Republic of Pakistan 

The Pakistan Italian Debt Swap Agreement (PIDSA), signed at Islamabad on November 4th 2006, relates to the remaining part of Pakistan’s concessional debt consolidated through the precedent Bilateral Agreement between the two countries and establishes procedures for the implementation of swap operations such debt. The funds in Pakistani Rupees provided for debt-swap operations shall be used by the Government of the Islamic Republic of Pakistan to buy goods and services to implement jointly agreed developed projects in Pakistan.



The projects shall aim at promoting socio-economic development and / or environmental protection in the priority sectors of agriculture, health, education and basic infrastructure and shall be identified in compliance with the principles and guidelines agreed upon by the two countries within the framework of the Pakistani-Italian Development co-operation. Priority will be accorded to projects aimed at rural development, poverty alleviation and education, in a context of verifiable social participation and with an environmentally sustainable resource use.



The projects implemented under the Agreement are presented as jointly financed by the Government of the Islamic Republic of Pakistan and the Government of the Italian Republic. The funds are managed by the two governments through the Management Committee and the technical support unit of PIDSA, in according to the international agenda of “aid and development effectiveness”. The Management Committee is responsible to: select projects to be finaced in accordance with the Agreement; monitor project implementation through field visits and evaluation or progress / financial reports; verify project achievements. The funds are managed through a transparent cooperation among the following actors: donors and recipients, public and private sector, and community, institutions and local authorities. A particular attention is dedicated to the impact of the cooperation initiatives.


 
A project developed by:
Fondazione politecnico
Together with:
Politecnico di milano
Founded through the Debt Swap Agreement and supported by:

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