The Azerbaijan State News Agency

WORLD

EU AGREES TRADE CONCESSIONS TO FLOOD-HIT PAKISTAN

Baku, September 17 (AZERTAC). The European Union has agreed to make trade concessions to Pakistan to help it overcome the impact of flooding, diplomats say.

Details of the concessions are not yet available, but British diplomats told the BBC that potentially they could be worth millions of dollars.

They say the deal could allow Pakistan significant reductions in duties paid on textile exports to EU countries.

The International Monetary Fund has agreed to provide a $451m loan.

The IMF said that money would immediately be made available to Pakistan.

It said it hoped its decision would encourage more lending by international donors.

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