Germany Will Provide 130 Million Euro for Development Projects in Pakistan

Islamabad: German Ambassador to Pakistan Miss Ina Lepel said that Germany will provide Pakistan 130 Million Euro committed in 2012/2013 for development projects. These projects contain financial and technical cooperation like a hydro power plant; social health protection programme, Afghan refugees and IDPs of tribal areas of Pakistan.

she expressed her views after signing an agreement with Secretary EAD, Tariq Bajwa, According to the agreement Germany will provide  four Financing Agreements i.e. Financial Cooperation Agreement 2012 & 2013 (Euro 91 million) and Technical Cooperation Agreement 2012 & 2013 (Euro 34.7 million), totaling 125.7 million Euros for development cooperation to Pakistan here on Friday. In this amount 98.7 million Euros are given as grant and 27 million Euros as loan.

On the occasion Finance Minister, Senator Muhammad Ishaq Dar acknowledged the role of Germany in helping Pakistan in achieving sustainable socio-economic objectives. Finance Minister, Senator Muhammad Ishaq Dar said that Pakistan highly values Pak-German partnership dating back to 1961. He emphasized the need to not only enhance bilateral cooperation in trade, energy and social sectors as well as promoting bilateral trade and investment and more people to people contacts.

The German Ambassador highlighted 56 years of successful German-Pakistani cooperation with the affirmation to continue the same for mutual benefit of the two countries. She also stressed Germany’s lasting support to Pakistan in Health, Energy, Technical & Vocational Training, Sustainable Development, support to TDPs and Refugees.

The signing ceremony was preceded by a meeting between Finance Minister Ishaq Dar and German Ambassador Ina Lepel. Both sides on the occasion expressed the resolve to continue working together to enhance bilateral ties in different areas of mutual interest. Senior officials of Finance Division, Economic Affairs Division and Embassy of Germany attended the signing ceremony.

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