Germany commits €129 m for development in Pakistan

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Islamabad

Germany has committed €129 million for future German development cooperation in Pakistan in addition to the ongoing portfolio.

Federal Minister for Economic Affairs Omar Ayub Khan witnessed the signing of the financial cooperation agreement amounting to €129 million between the Ministry of Economic Affairs, Pakistan, and Federal Ministry for Economic Cooperation & Development, Germany.

The minister appreciated Germany’s enhanced bilateral economic cooperation with Pakistan.

He expressed that Pakistan and Germany are long-standing development partners and congratulated the both sides on completing 60-years of development cooperation.

The minister reaffirmed its appreciation for the strategic bilateral cooperation with Germany.

While acknowledging the formidable socioeconomic security and governance challenges it faces, he reiterated its commitment to transform these into opportunities and build upon them for the benefit of the nation.

The biennial Negotiations on Development Cooperation between the government of Pakistan and the government of Germany were also held in the Economic Affairs Division.

The Pakistani Delegation was headed by Mian Asad Hayaud Din, Secretary, Economic Affairs Division and included representatives of the Ministry of Foreign Affairs, Ministry of Finance, Federal Board of Revenue and relevant provincial governments.

The delegation of the Federal Republic of Germany was headed by Ms. Gisela Hammerschmidt, Commissioner for Asia at the Federal Ministry for Economic Cooperation & Development, and included participants from the German Foreign Office, KfW, GIZ and BGR.

The two sides took stock of the existing Development Cooperation and expressed satisfaction at the trajectory of cooperation in different areas since 1961.

During the current talks, both sides underlined the importance of close cooperation and partnership.

The German Federal Ministry for Economic Cooperation & Development committed new funding in three sectors – good governance, climate & energy and training & sustainable growth.

The new financing will be allocated to different projects including Digital Governance Pakistan, Social Protection, Promotion of Startups in Pakistan, Promotion of Solar Energy, Self Employment of Women in Private Health Sector, and Development of Hydropower & Renewable Energy. —TLTP

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