Pakistan and Germany’s state-owned development bank have signed an agreement for an €18 million grant.
According to a statement issued by the spokesperson for the , a grant agreement has been signed between Pakistan and the German development bank . Under the agreement, KfW will provide a grant of 18 million euros to the Government of Pakistan.
The spokesperson said the funds will be used to promote green energy and renewable energy projects in the northern areas. The agreement was signed on behalf of Pakistan by Secretary Economic Affairs , while , Country Director of KfW, signed it on behalf of the German development bank.
Secretary Economic Affairs Muhammad Hameer Karim expressed gratitude to the German government for the grant assistance, saying the support would help meet the region’s growing energy needs through environmentally friendly solutions.
Sebastian Jacobi said that through this grant, people in the northern regions will gain access to green and sustainable energy.
He added that the initiative will also create more employment opportunities and help promote tourism in the region.
