Pakistan, EU sign €65m development agreements
Pakistan and the European Union have signed agreements worth €65 million for three major development programmes. The agreements will focus on investment, energy, environmental sustainability, the rule of law and the business environment. Meanwhile, Economic Affairs Secretary Muhammad Humair Karim and EU Ambassador Riina Kionka signed the agreements. Together, the programmes mark a new phase […]
Islamabad, Pakistan witnessed the signing of three €65 million financing agreements between Pakistan and the European Union (EU) on Monday. These agreements aim to strengthen global gateway investments, improve the rule of law, and bolster energy and environmental resilience in Pakistan. The EU Ambassador to Pakistan, Raimundas Karoblis, and Muhammad Humair Karim, Secretary of the Economic Affairs Division (EAD), signed the agreements on behalf of their respective sides.
The EU will fund the initiatives under its Multiannual Indicative Programme 2021-2027. The first program, Global Gateway Development Facilitation for Pakistan, focuses on investment management and financial enablement of environmental projects. The second program, Energy and Natural Environment Resilience in Khyber Pakhtunkhwa, aims to expand renewable energy in rural areas and increase private sector involvement.
Lastly, the third program, EU Support to the Rule of Law and Business Environment in Pakistan, helps citizens access legal assistance in provinces of Khyber Pakhtunkhwa and Balochistan. EAD Secretary Karim expressed gratitude for the EU's ongoing support, emphasizing the relevance of these interventions to Pakistan's goals. EU Ambassador Karoblis highlighted the EU's commitment to Pakistan's economic development and investment ambitions, as well as the support for KP's energy sector and sustainable natural resource management.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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