December 05, 2023 (MLN): The Ministry of Economic Affairs and KfW, the German Development Bank solidified their partnership with the signing of agreements aimed at enhancing the capacity of Pakistan’s power transmission sector and supporting the health sector, particularly in areas affected by floods, said a press release issued on Monday.
In a ceremony held in Islamabad, Mr. Sebastian Jacobi, Country Director of KfW and Dr. Kazim Niaz, Secretary of the Ministry of Economic Affairs inked agreements that signify Germany’s commitment to furthering the development goals of Pakistan.
Managing Director NTDC, Engr. Dr. Rana Abdul Jabbar Khan was also present on the occasion. Under the Accompanying Measures to support the “Promotion of Renewable Energies and Energy Efficiency” program, KfW, representing the German Government, will provide an additional grant of Euro 2.5 million to the National Transmission and Despatch Company (NTDC).
This funding will assist NTDC in ensuring the effective operation and maintenance of installations, incorporating robust environmental and social management systems.
The initiative is poised to enhance the integration of needs-based renewable energy into the transmission system, thereby contributing to sustainable economic growth and climate protection. In another significant move, KfW will allocate an additional Euro 1.5 million to the “Self-Employment of Women in the Private Health Sector” program.
This initiative aims to empower women economically by establishing 400 clinics in Punjab and Khyber Pakhtunkhwa, creating income-generating opportunities.
The support is designed to foster inclusive and sustainable economic growth while concurrently improving reproductive health services in rural areas.
Expressing gratitude, Mr. Kazim Niaz, Secretary of the Ministry of Economic Affairs, acknowledged the German Government’s steadfast support and commended KfW for its pivotal role in fostering economic growth and sustainable development in Pakistan.
In response, Mr Sebastian Jacobi emphasized that KfW’s funding in the energy and governance sectors will not only drive sectoral improvements but also contribute to the socio-economic uplift of beneficiaries through job creation and infrastructure development.
Highlighting the longstanding economic cooperation between Germany and Pakistan, dating back over 60 years, Mr. Jacobi noted that Germany has consistently supported Pakistan in infrastructure development and improving social conditions.
The latest agreements reaffirm Germany’s commitment to being a reliable partner in Pakistan’s journey towards progress and prosperity.
Copyright Mettis Link News
Posted on: 2023-12-05T09:31:44+05:00
