Pakistan, EU ink €65mn financing deals
The Government of Pakistan and the European Union (EU) on Monday signed three grant agreements worth a total of €65 million (approx. Rs20.64 billion) to launch three programmes, i.e. the ‘Global Gateway development facilitation for Pakistan’, ‘Energy and Natural Environment Resilience in Khyber Pakhtunkhwa’ and ‘EU Support to the Rule of Law and Business Environment in Pakistan’. This cooperation…
The Government of Pakistan and the European Union have signed three grant agreements worth €65 million to support various development initiatives in the country. The agreements, which were signed by the EU Ambassador to Pakistan and the Secretary of the Economic Affairs Division, focus on three main aspects of Pakistan's development.
The first initiative, the 'Global Gateway development facilitation for Pakistan', aims to attract more foreign investment by improving the tax system and strengthening the government's financial planning. The second initiative, the 'Energy and Natural Environment Resilience program in Khyber Pakhtunkhwa', will expand renewable energy in rural communities and provide training to attract private investment.
The third initiative, 'EU Support to the Rule of Law and Business Environment in Pakistan', will improve access to justice and strengthen the rule of law in the provinces of Khyber Pakhtunkhwa, Balochistan, Punjab, and Sindh.
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