Pakistan, Germany Sign Financing Agreements Worth �18.5 M In Various Fields
Sumaira FH Published November 28, 2020 | 12:40 AM
ISLAMABAD, (UrduPoint / Pakistan Point News - 28th Nov, 2020 ) :Pakistan and Germany signed financing agreements worth �18.5 million in the fields of energy, health and climate change for enhancing the cooperation between the two countries.
The government of Pakistan, represented by the Ministry of Economic Affairs and the government of Germany, through German Development Bank-KfW, signed three grant-in-aid agreements with a cumulative value of Euro 18.5 million, said a press release issued by the Ministry of Economic Affairs here Friday.
Under these agreements, the government of Germany will provide support to the government of Pakistan for health facilities and combating polio in the country, along with services towards mitigating energy issues.
The agreements were signed by Ministry of Economic Affairs Federal Secretary Noor Ahmed and German Development Ban-KfW Pakistan Country Director Sebastian Jacobi.
Under the 'Women Employment in Private Health Sector', KfW will provide a grant of Euro 12 million exclusively for the establishment of women's health clinics in Khyber Pakhtunkhwa and Punjab to promote self-employment of women in the health sector, and training of qualified women to run clinics.
For 'Polio eradication' the government of Germany, through KfW will provide an additional grant of Euro 5 million to augment the existing support for polio eradication.
This will help the government of Pakistan to finance polio vaccines and meet the costs for vaccination campaigns for implementation of Pakistan's National Polio Emergency Action Plan.
Under the climate change/energy component, a grant of Euro 1.5 million is provided to Pakistan to implement accompanying services for the Harpo Hydropower Project in the Gilgit-Baltistan region.
These accompanying measures will be carried out at the project site in support of the main Harpo Hydropower Project to ensure the project sustainability.
The accompanying services shall comprise assistance to strengthen the power utility such as; the Gilgit-Baltistan Power Department as well as accompanying investments in the social infrastructure including relevant consulting measures.
Historically, Pakistan and Germany have enjoyed warm friendly relations since the establishment of diplomatic ties in 1951.
Earlier this year, the government of Germany, through KfW signed agreements with the government of Pakistan to provide Euro 27 million for Gharo Substation in the province of Sindh and Euro 6 million for the Regional Infrastructure Project in Khyber Pakhtunkhwa.
Noor Ahmed thanked the Country Director, KfW for providing grant-in-aid assistance to Pakistan worth Euro 18.5 million.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 10 May 2024
Today Gold Rate in Pakistan 10 May 2024
London, Frankfurt stocks hit record highs on rate-cut hopes
May 9 culprits must be brought to logical end: Hanif Abbasi
Sanchez escapes through dust and gravel for nervy Giro triumph
Balochistan Assembly passes resolution to condemn May 9 attacks
Spain govt vows to block hostile BBVA bid for rival bank
NADRA holds open court to resolve public issues in Quetta
In south Brazil, race on to deliver aid ahead of new storms
Appeals against cipher case verdict adjourned till May 15
PIPS collaborates with CfP to enhance technological, educational infrastructure
China launches new satellite
More Stories From Business
-
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 10 May 2024
28 seconds ago -
Today Gold Rate in Pakistan 10 May 2024
36 minutes ago -
Tokyo stocks open higher after US gains
1 hour ago -
Spain govt vows to block hostile BBVA bid for rival bank
10 hours ago -
Tajir Dost Scheme aims at broadening tax-base: Federal Minister for Finance and Revenue, Muhammad Au ..
10 hours ago -
ICCI organize ceremony to express solidarity with Armed Forces of Pakistan
11 hours ago
-
Habib Arif posted as MD SIDB KP
11 hours ago -
Finance minister highlights economy-stabilizing efforts
11 hours ago -
Call for Tobacco Tax Increase to Safeguard Child Rights and Public Health
12 hours ago -
IPAK to raise Rs. 1.77b in book building process
11 hours ago -
Spanish bank BBVA goes hostile in Sabadell takeover bid
11 hours ago -
Pakistan's total liquid foreign reserves surge over $ 14.45 billion
11 hours ago