Germany to fund projects worth €28m

Signs two framework agreements focusing on socio-economic uplift, sustainable development

ISLAMABAD:

Germany signed two framework agreements worth €28 million, on Thursday, that will focus on the socio-economic uplift and sustainable development of Pakistan.

Ambassador of the German government, Alfred Grannas, and the Ministry of Economic Affairs to Pakistan, Dr Kazim Niaz, signed agreements in the energy and governance sectors.

According to details, Germany will provide a budget financing of €23 million under the framework agreement-Technical Cooperation Agreement 2021 through GIZ.

Under the framework agreement, three projects – the “Participatory Local Governance”, “Building Transition to Promote Energy Efficiency in Buildings” and “Strengthening Climate Adaptation and Resilience” – will be subsidised.

The Participatory Local Governance project, with an overall financing of €10 million, aims to boost the service delivery capacity of the local authorities in Khyber-Pakhtunkhwa (KP) and Punjab in order to fulfil the local needs and priorities.

The Building Transition to Promote Energy Efficiency in Buildings project, comprising of €3 million, seeks to promote energy efficiency by building transition models through political, legal and regulatory interventions, using inventories and pilot demonstration models.

The third, Strengthening Climate Adaptation and Resilience, project will contribute towards improving all the prerequisites for climate change adaptation and climate risk management. This project is worth €10 million.

In addition to this, another framework agreement namely the ‘Financial cooperation Agreement 2020’ worth a grant of €5 million was also signed. This framework only comprises of one project titled “Self-Employment for Women in the Health Sector” which will be executed by KfW. This project aims to enforce international environmental and social standards to contribute towards inclusive and sustainable economic growth.

Speaking on the occasion, Ambassador Grannas said, “The funding provided by Germany in the fields of climate adaptation, economic empowerment and governance will not only help sectorial improvement but will also result in the socio-economic uplift of the beneficiaries through job creation and sustainable development.”

Secretary Niaz thanked the German government for its support and appreciated the important role being played in the economic growth and promotion of sustainable development in Pakistan.

Economic cooperation between Germany and Pakistan dates back to over 60 years during which Germany has provided Pakistan with consistent support for its socio-economic uplift and sustainable development.

Officials from KfW and GIZ were also present at the signing ceremony.

Published in The Express Tribune, January 13^th, 2023.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.