ISLAMABAD-(Mudassar Iqbal)- Pakistan and the European Union (EU) have signed a €20 million grant agreement to launch the “Better Governance and Business Environment” initiative, underscoring their mutual commitment to fostering inclusive and sustainable economic growth.
The agreement was signed by the EU Ambassador to Pakistan Dr. Riina Kionka and Secretary Economic Affairs Division Dr. Kazim Niaz. Funded under the EU’s Multiannual Indicative Programme 2021-2027, the initiative aims to enhance the competitiveness of Pakistan’s private sector, particularly small and medium-sized enterprises (SMEs), including those led by or benefiting women.
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The programme will strengthen SME-related legislation, support the green transition of export-oriented firms, facilitate targeted green investments, and promote public-private dialogue. It aligns with the EU’s Global Gateway strategy, GSP+ commitments, and the EU Green Deal, promoting smart, sustainable investment and resilient value chains.
Speaking at the occasion, Dr. Niaz expressed appreciation for the EU’s continued support and partnership. He emphasized the timely nature of the intervention, highlighting its strong alignment with Uraan Pakistan’s goals for private sector development and institutional reform to attract responsible investment.
Ambassador Dr. Kionka stated, “This agreement underscores the EU’s commitment to supporting Pakistan in building a resilient, inclusive, and competitive economy. We are investing in green innovation, women-led businesses, and public-private partnerships to ensure a more sustainable future for all Pakistanis.”
The EU’s development cooperation with Pakistan remains focused on climate resilience, governance, human rights, and sustainable economic progress. This new initiative marks another step forward in advancing these shared priorities.
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