Pakistan will receive €448.5 million in financing from Germany for initiatives in vocational training, health, 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. Pakistan and Germany, he said, have been development partners for a long time. He stated that Germany had supplied €3.8 billion in technical and financial assistance to Pakistan for socioeconomic development since 1961. The German International Cooperation Agency (GIZ) is now investing €147.5 million in Vocational Training, Health, Social Protection, and Renewable Energy.
The Credit for Reconstruction Bank has also pledged €301 million for renewable energy, health, urban infrastructure, and climate change projects.
The Minister informed the German State Secretary and the other visiting representatives on the Pakistani government’s continuing policy reform measures, as well as its development priorities. Climate change, renewable energy, agriculture, regional connectivity, and information and communication technology are among the government’s top priorities, he said.
Read More: Germany commits €129 million for climate, energy and development projects in Pakistan
He also emphasized the importance of concentrating on vocational and technical education in the country. A proposed plan to create a state-of-the-art technical training university in Gilgit-Baltistan is being considered in this regard. In order to allow safe travel and smooth e-services, he also stressed the importance of enhancing road infrastructure and digital connectivity across the country.
Jochen Flasbarth, Germany’s State Secretary, showed comfort with the progress of bilateral collaboration in various areas and emphasized ways to improve bilateral technical and financial cooperation. He promised that Germany would continue to support education, health, green energy, urban infrastructure, digital governance, and the Start-Up Pakistan Program in the social sector.
Omar Ayub reaffirmed the government of Pakistan’s complete support for investors in the country, stating that Pakistan has enormous investment opportunity in a variety of areas.
The two sides discussed ways to improve the cost-effectiveness of development assistance programs as well as ways to improve private-sector engagement, including improving export competitiveness through technical and financial assistance.