Germany to provide financial assistance worth Rs 4 billion to Pakistan


ISLAMABAD, Pakistan: Germany will provide financial assistance worth 22.4 million Euros to Pakistan to support existing projects in renewable energies, better grid connections and improved access to financial services.

In this regard, an agreement was signed in Islamabad on Friday under the Pakistan-Germany Development Programme.

The Secretary Economic Affairs Division Noor Ahmed and the Charge’d’ Affaires of the German Embassy Dr Jens Jokisch signed the document on behalf of their respective organizations.

The Federal Minister for Economic Affairs Hammad Azhar also witnessed the signing ceremony.

Under the agreement, support for Social Health Protection Schemes in Khyber Pakhtunkhwa and Gilgit-Baltistan is also included which shall provide health insurance to underprivileged masses and investments for polio eradication in collaboration with the Ministry of National Health Services.

The contracting parties underlined the good relations between Germany and Pakistan and looked forward to strengthening their cooperation.

Both sides looked forward to having meaningful deliberations in the upcoming government to government negotiations in Berlin to commit funds for future projects.

While speaking at the agreement signing ceremony, Hammad Azhar 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.

The minister said that the government of Pakistan honors and appreciates financial cooperation from the Germany and looks forward to strengthen bilateral relations in future specifically after the government to government negotiations in September 2019.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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