Germany Commits 129 million € for Pak Developmental Projects – A development deal has been signed between Pakistan and Germany on Tuesday (November 3) in which Germany committed 129 million euros for future German development cooperation in Pakistan in addition to the ongoing portfolio to support the country’s economy.
Germany Commits 129 million € for Pak Developmental Projects
Pakistan delegation was led by Secretary of Economic Affairs Division Mian Asad Hayauddin while the German delegation was headed by Commissioner for Asia at the Federal Ministry for Economic Cooperation and Development Gisela Hammerschmidt and included representatives from the German Foreign Office, KfW, GIZ, and the Federal Institute for Geosciences and Natural Resources (BGR).
The signing ceremony was also witnessed by Minister for Economic Affairs Omar Ayub Khan. He appreciated bilateral ties between both countries. He expressed that Pakistan and Germany are long-standing development partners and congratulated both sides on completing 60-years of development cooperation.
According to the agreement, funds will be allocated to different projects in Pakistan including digital governance, social protection, promotion of startups, enhanced use of solar energy, self-employment of women in the private health sector, and development of hydropower and renewable energy.