Pakistan to get 22.4m euro grant from Germany
ISLAMABAD: Pakistan and Germany signed on Friday a financial assistance agreement worth 22.4 million euro. The agreement signed under Pakistan-Germany Development Programme would support existing projects in the area of renewable energies, better grid connections and improved access to financial services.
Secretary Economic Affairs Division Noor Ahmed and Charge’ d’ Affaires of the German Embassy in Islamabad Dr Jens Jokisch signed the agreement. Federal Minister for Economic Affairs Muhammad Hammad Azhar witnessed the signing ceremony of the agreement.
The grant will also cover social health protection schemes in KP and GB which shall provide health insurance to the underprivileged and investments for polio eradication in collaboration with the Ministry of National Health Services, Regulation and Coordination. Development cooperation between Pakistan and Germany dates back to 1961, with the funding volume to date totaling more than 3 billion euro.
The contracting parties underlined good relations between the two countries and looked forward to strengthening their cooperation. Both the sides look forward to having meaningful deliberations in the upcoming Government to Government Negotiations in Berlin, 2019 to commit funds for future projects/proposals. The minister thanked the German government for the grant geared towards the betterment of the people of Pakistan. He opined that the financial assistance from Germany will support key priority sectors of the government like renewable energy, social health protection and access to financial services.