Germany has agreed to provide Pakistan with €448.5 million in funding for the development in various projects ranging from vocational training to health and social protection, urban infrastructure, climate change, and renewable energy.
This was revealed by Jochen Flasbarth, State Secretary of Germany’s Federal Ministry for Economic Cooperation and Development, during a meeting with Omar Ayub Khan, Minister of Economic Affairs, on Monday.
Omar Ayub praised Germany’s increased bilateral economic cooperation with Pakistan. He stated that Pakistan and Germany have a long history of development cooperation.
He stated that Germany has provided €3.8 billion in technical and financial assistance to Pakistan for socioeconomic development since 1961.
The German International Cooperation Agency (GIZ) is currently providing €147.5 million for Vocational Training, Health, Social Protection, and Renewable Energy.
The Credit for Reconstruction Bank (KfW) has also pledged €301 million for a variety of development projects, including renewable energy, health, urban infrastructure, and climate change.
The Minister briefed the German State Secretary and the accompanying delegation on the Pakistani government’s ongoing policy reforms and initiatives, as well as its development priorities.
He stated that the government prioritized climate change, green energy, agriculture, regional connectivity, and information and communication technologies. He emphasized the importance of focusing on vocational and technical education in the country.
In this regard, a proposal to establish a cutting-edge technical training university in Gilgit-Baltistan is being considered. He also emphasized the importance of improving road infrastructure and digital connectivity across the country in order to facilitate safe travel and smooth e-services.
Omar Ayub reiterated the government of Pakistan’s full support for investors in the country, stating that Pakistan has enormous potential for investment in a variety of sectors.
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