Germany Funds Development in Pakistan
Germany signed a multi-million agreement in order to help alleviate poverty and infrastructure damage in Khyber PakhtunkhwaOctober 04th, 2022
ISLAMABAD: The Regional Infrastructure Fund (Phase-II) agreement between Pakistan and Germany was signed on Monday. Under the terms of the agreement, the German government will provide a grant of 17.5 million euros to various development projects in Khyber Pakhtunkhwa (KP).
According to the Economic Affairs Division, Secretary Ministry of Economic Affairs Mian Asad Hayaud Din and Country Director German Bank for Development (kfW) Sebastian Jacobi signed the agreement for the project known as "Regional Infrastructure Fund – II for Khyber Pakhtunkhwa for Resilient Resource Management in Cities (RRMiC)" at the Ministry of Economic Affairs.
KfW Development Bank will help the KP government with investments in community infrastructure, enhancements to capacity and service delivery, citizen participation and equality, and consultant and contingency services in two districts of KP province with funds from the German government. In a few tehsil towns, the goal is to implement a participatory approach to integrated, multisectoral, resilient, and sustainable solid waste and water management.
Since the establishment of the German Federal Ministry for Economic Cooperation and Development (BMZ) in 1961, Pakistan has received German Development Assistance. Since 1961, €3.8 billion has been provided in technical and financial cooperation as development assistance.
According to KfW's Country Director Sebastian Jacobi, these efforts will help alleviate challenges brought on by poverty and infrastructure damage from natural disasters, as well as have a sustainable and long-lasting positive impact on the lives of the country's deserving communities.