In order to enhance cooperation and work on different projects, Germany is ready to provide 109 million euros to Pakistan. This was revealed by the Economic Affairs Division in a statement.
Grants worth 84 million will be given for financial and technical assistance projects. Also, a concessional loan worth 25 million will be given by Germany to Pakistan.
During the bi-annual negotiations on development cooperation between governments of Germany and Pakistan, this commitment was made. The negotiations were held from September 11th to 12th in Berlin.
Secretary, Economic Affairs Division (EAD) Noor Ahmed headed the Pakistani delegation while the Director for Asia at the German Federal Ministry for Economic Cooperation and Development Gisela Hammerschmidt headed the German delegation.
In the sectors of good governance, energy, and sustainable economic development, the funding will be utilized, as per the statement.
The statement further said that the funding will be allocated to different projects. These projects include the billion tree afforestation project, resilience against natural disasters, supporting the people affected due to migration and displacement, promoting renewable energy, protecting social health and improving the social and labor standards.