Pakistan, EU ink €65mn financing deals

Pakistan and the European Union signed three grant agreements on Monday worth €65 million, roughly Rs20.64 billion, according to Business Recorder. The funding will support three programmes covering investment, energy access and the rule of law. The deals were signed by EU Ambassador Raimundas Karoblis and Economic Affairs Division Secretary Muhammad Humair Karim.

The first initiative, the Global Gateway facilitation programme, aims to draw more foreign investment through tax system upgrades and firmer long-term financial planning. A second programme will expand renewable power for off-grid rural communities in Khyber Pakhtunkhwa and offer training to bring private capital into the province's energy sector. The third will widen access to police, prosecutors, courts and legal aid in KP and Balochistan, while promoting alternative dispute resolution in Punjab and Sindh.

Karim praised the EU for its continued support and said the timely interventions align with Pakistan's goals of more foreign investment, better off-grid electricity in KP and stronger legal standards. Karoblis said the agreements reflect the EU's commitment to Pakistan's economic and investment ambitions under its flagship Global Gateway initiative, and that they will also help build a resilient energy sector in KP while encouraging sustainable use of natural resources.