Pakistan, EU sign €65m grant agreements for three development programmes

Mettis Global reported that Pakistan and the European Union have signed three grant agreements worth €65mn, roughly Rs20.64 billion, to launch three development programmes. The deals were signed by EU Ambassador Raimundas Karoblis and Economic Affairs Division Secretary Muhammad Humair Karim, according to a press release. All three initiatives are funded under the EU's Multiannual Indicative Programme for 2021 to 2027.

The first programme aims to draw more foreign investment by reforming taxation and strengthening long-term financial planning. Khyber Pakhtunkhwa's energy programme will bring renewable power to off-grid rural communities and train people to attract private capital. Building on earlier EU aid, the rule of law initiative will make police, prosecutors, courts and free legal support easier to reach in KP and Balochistan, while Punjab and Sindh get help expanding alternative and commercial dispute resolution.

Humair Karim thanked the EU and called the projects well-timed, in line with Pakistan's aims of attracting foreign capital and bringing power to off-grid rural KP. Ambassador Karoblis said the deals back Pakistan's investment plans under the flagship Global Gateway initiative, and would help KP build a sturdier energy sector. He added that the rule of law programme will benefit residents of KP and Balochistan, while Punjab and Sindh gain from dispute resolution work with courts, lawyers and business groups.