By Pakistan and the European Union (EU) have signed three grant agreements worth a combined €65 million, equivalent to around Rs. 20.64 billion, to support investment, renewable energy and rule of law initiatives in Pakistan.
The agreements were signed by EU Ambassador to Pakistan Raimundas Karoblis and Economic Affairs Division Secretary Muhammad Humair Karim. The programmes will be funded under the EU’s Multiannual Indicative Programme for 2021–2027.
The three programmes include Global Gateway Development Facilitation for Pakistan, Energy and Natural Environment Resilience in Khyber Pakhtunkhwa (KP), and EU Support to the Rule of Law and Business Environment in Pakistan.
The Global Gateway programme will focus on attracting foreign investment, improving the tax system and strengthening long-term government financial planning.
The Energy and Natural Environment Resilience programme will support renewable energy projects in off-grid rural areas of KP. It will also provide training and encourage greater private-sector participation in the province’s energy sector.
The third programme will focus on improving access to police, prosecution services, courts and legal aid in KP and Balochistan. It will also support Punjab and Sindh in expanding alternative and commercial dispute resolution mechanisms to improve the business environment.
Speaking at the signing ceremony, Karim welcomed the EU’s continued support and said the programmes addressed key development priorities, including foreign investment, electricity access in rural areas and improvements in rule of law and commercial dispute resolution.
Ambassador Karoblis said the agreements reaffirmed the EU’s commitment to Pakistan’s economic development and investment objectives under the Global Gateway initiative.
He added that the programmes would support a stronger and more resilient energy sector in KP, sustainable natural resource management and improved access to justice. Punjab and Sindh will also receive support to strengthen alternative and commercial dispute resolution through cooperation with the judiciary, legal professionals, universities and the business community.
https://www.techjuice.pk/eu-approves-e65-million-support-package-for-pakistan/
