Business

ISLAMABAD (APP) – German Ambassador, Ina Lepel Sunday briefed Federal Finance Minister, Senetor Muhammad Ishaq Dar on recently concluded bilateral negotiations and expressed satisfaction over outcome of the discussions.


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The Ambassador discussed details relating to Germany’s Euro 93.64 million financial and technical assistance pledged for Pakistan for 2015-16.

She expressed her country’s continued support for Pakistan in its efforts for economic development.

The Minister on this occasion appreciated Germany’s active engagement in energy, governance, sustainable development and health sectors in Pakistan, said a press release.

They also discussed the latest development with regard to the creation of Pakistan Microfinance Investment Company. The Ambassador said that KFW was working closely with the PPAF for finalizing the details of this new initiative.

The Minister welcomed KFW’s interest and support for the new company. Both sides exchanged views on the Pak-Germany Bilateral Agreement which was signed in 1972 and required to be updated it in line with the
present day needs.

The Minister thanked Ambassador Lepel for her efforts to further augmenting Pak-Germany economic cooperation and assured her full support in these efforts.