Pakistan and the European Union have signed three grant agreements worth a combined €65 million, or around Rs. 20.64 billion, for programs covering investment, energy resilience, and the rule of law.
EU Ambassador to Pakistan Raimundas Karoblis and Secretary of the Economic Affairs Division Muhammad Humair Karim signed the agreements.
The grants are being provided under the EU’s Multiannual Indicative Programme for 2021-2027 and will support Pakistan’s economic and energy development while improving the business environment and access to justice.
The €65 million package includes the Global Gateway development facilitation program, which will focus on improving Pakistan’s tax system and strengthening long-term government financial planning to help attract foreign investment.
Another program, focused on energy and natural environment resilience in Khyber Pakhtunkhwa, will support renewable energy projects in rural areas that are not connected to the electricity grid.
The initiative will also provide training to help attract private investment and increase private sector participation in KP’s energy sector.
The EU’s support for the rule of law and business environment will focus on improving access to police, prosecution services, courts, and legal aid in KP and Balochistan.
The program will also support Punjab and Sindh in expanding alternative and commercial dispute resolution mechanisms aimed at facilitating investment.
Speaking at the signing ceremony, Karim welcomed the EU’s continued support and said the programs aligned with Pakistan’s objectives of attracting foreign investment, expanding electricity access in off-grid rural areas of KP, and improving the resolution of commercial disputes.
Ambassador Karoblis said the agreements demonstrated the EU’s commitment to Pakistan’s economic development and investment objectives through its Global Gateway initiative.
He also highlighted the EU’s support for the energy sector and sustainable natural resource management in KP, better access to justice in KP and Balochistan, and stronger alternative and commercial dispute resolution mechanisms in Punjab and Sindh.
