Pakistan EU Sign €65 Million Grant Agreements Monday

ISLAMABAD: (News Desk) – The Government of Pakistan and the European Union (EU) on Monday signed three grant agreements worth a combined €65 million to support economic development, renewable energy and the rule of law in the country.

The agreements cover three programmes: Global Gateway Development Facilitation for Pakistan, Energy and Natural Environment Resilience in Khyber Pakhtunkhwa, and EU Support to the Rule of Law and Business Environment in Pakistan.

The cooperation package reflects a shared commitment by Pakistan and the EU to strengthening economic growth, improving the energy sector and promoting access to justice and the rule of law.

The agreements were signed by EU Ambassador to Pakistan Raimundas Karoblis and Secretary of the Economic Affairs Division Muhammad Humair Karim.

Funded through the EU’s Multiannual Indicative Programme 2021–2027, the three initiatives will focus on key areas of Pakistan’s economic and institutional development.

The Global Gateway Development Facilitation for Pakistan: Investment Management and Financial Enabling Environment programme aims to encourage greater foreign investment by supporting improvements in the tax system and strengthening the government’s long-term financial planning and investment framework.

The Energy and Natural Environment Resilience Programme in Khyber Pakhtunkhwa will focus on expanding access to renewable energy in rural areas that remain outside the electricity grid. The initiative will also provide training and capacity-building aimed at attracting private investment and increasing private-sector participation in KP’s energy sector.

Meanwhile, the EU Support to the Rule of Law and Business Environment in Pakistan programme will build on previous EU assistance by improving public access to police, prosecution services, courts and legal aid in Khyber Pakhtunkhwa and Balochistan.

The programme will also assist Punjab and Sindh in expanding alternative and commercial dispute-resolution mechanisms. The initiative is intended to improve the business environment and facilitate investment by European and other companies in the two provinces.