Pakistan to secure significant funding with 5 new EU grant agreements

January 29, 2024 (MLN): The European Union (EU) Ambassador to Pakistan, Riina Kionka, and Dr. Kazim Niaz, Secretary of the Ministry of Economic Affairs, signed five new EU grant agreements signifying a substantial commitment of nearly €100 million (equivalent to over Rs30 billion).

These agreements are under Team Europe’s response to the 2022 post-flood Resilient Recovery, Rehabilitation, and Reconstruction Framework.

The new EU support package aims to fortify Pakistan’s resilience in the aftermath of the floods, bringing the total Team Europe response to the 2022 floods to over €930m.

The specific focus areas include revitalizing the rural economy in Khyber Pakhtunkhwa and restoring the disrupted livestock value chains in flood-affected Baluchistan.

Notably, these activities align with the expansive EU Global Gateway initiative, the largest EU investment program designed to propel the global green transition.

Moreover, the package extends its impact by fortifying Pakistan’s long-term resilience through targeted investments in human rights, gender equality, and civil society.

Secretary Dr. Kazim Niaz thanked the EU for their support and further emphasized that there are unmet needs in the flood affected areas that require assistance of development partners.

EU Ambassador, Dr. Riina Kionka, stated; “Pakistan is not alone in overcoming its challenging phase of economic crisis and flood recovery.

The EU and Team Europe partners are committed to building back better, sustainably improving lives in the most affected communities in KP and Baluchistan.

The EU’s commitment to Pakistan encompasses a vision of a stable, democratic, and pluralistic country that respects human rights and maximizes its economic potential.

The EU annually provides approximately EUR 90 million in grants for development and cooperation, supporting Pakistan’s initiatives to combat poverty, enhance education, promote good governance, human rights, rule of law, and ensure sustainable natural resource management.

The EU’s cooperation spans all of Pakistan, with a special focus on Khyber Pakhtunkhwa, Gilgit Baltistan, Balochistan, and Sindh.

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