EU to extend €160m loan for Pakistan

The European Union is set to provide Pakistan with a total loan of €160 million to support flood-affected communities and improve water supply in Karachi, with formal agreements scheduled to be signed on April 28.

The agreements will be finalised between the European Investment Bank and the Government of Pakistan.

Out of the total package, €100 million will be allocated for rehabilitation efforts in flood-hit areas of Sindh. The EU said the funding would help enable the construction of around 2.1 million homes to resettle affected families.