Germany Commits 109 Mln For Development Cooperation With Pakistan

Germany commits 109 mln for development cooperation with Pakistan

Germany has committed 109 million for future German Development Cooperation in Pakistan in addition to the on-going portfolio

ISLAMABAD, (UrduPoint / Pakistan Point News - 20th Sep, 2019 ) :Germany has committed 109 million for future German Development Cooperation in Pakistan in addition to the on-going portfolio.

The German side committed grants worth 84 million for financial and technical assistance projects along with a concessional loan worth 25 million.

The commitment was made during bi-annual negotiations on development cooperation between governments of the two countries held in Berlin from September 11-12, said a message received here on Friday.

The Pakistani delegation headed by Secretary, Economic Affairs Division (EAD) Noor Ahmed and included representatives of the Ministry of Foreign Affairs and the provinces of Khyber Pakhtunkhwa and Punjab.

The German delegation was headed by Director for Asia at the German Federal Ministry for Economic Cooperation and Development Gisela Hammerschmidt and included participants from the German Foreign Office, KfW, GIZ and BGR.

The two sides took stock of the existing development cooperation and expressed satisfaction at the trajectory of cooperation in different areas since 1961.

During the current talks, both sides underlined the importance of close cooperation and partnership.

The German Federal Ministry for Economic Cooperation and Development committed new funding in three sectors - Good Governance, Energy and Sustainable Economic Development.

Fresh funds will be allocated to different projects, including the billion Tree Afforestation Project, Resilience against Natural Disasters, Local Governance, support to people affected by migration and displacement, promotion of renewable energies, social health protection and improvement of social and labour standards.

The Pakistani delegation briefed the German counterparts about current and planned development priorities of the Pakistani Government, which include a stronger focus on transparency, institutional reforms, poverty alleviation, human resource development and green energy.

Both sides exchanged views on increasing the cost effectiveness of development assistance initiatives and the measures to enhance cooperation with the private sector.

The Pakistani side extended an invitation to the German delegation to visit Pakistan in the near future, which was accepted by the German side.

Your Thoughts and Comments