On the part of Russia, the agreement was signed by Deputy Finance Minister Sergey Storchak, on the part of Pakistan, Ambassador Qazi Khalilullah.
The debt repayment will reportedly enable Russia to invest about $8 billion in different sectors in Pakistan, including, first of all, the energy and steel industry.
Earlier in June, Russia and Pakistan signed a memorandum of understanding on constructing the North-South gas pipeline by 2020. The pipeline, with investments worth of $3 billion, is planned to connect Iran, Pakistan and India. Last year, Moscow and Islamabad also voiced negotiating on possible participation of Russian corporations in the projects for construction of Turkmenistan-Afghanistan-Pakistan-India Pipeline.