The government of Pakistan has presented a list of 12 potential projects for co-financing with the European Investment Bank (EIB), as part of strategic discussions aimed at fostering collaborative development initiatives.
The EIB delegation, led by Edvardas Bumsteinas, Head of Division for Asia & Pacific, expressed interest in several key projects, including those financed by other international financial institutions such as the World Bank, Asian Development Bank, and Asian Infrastructure Investment Bank.
During the visit, the Federal Minister for Economic Affairs emphasized the strategic importance of the EIB’s engagement with Pakistan, highlighting the alignment of EIB’s priority areas—such as climate action and investments in water, energy, and transport sectors—with Pakistan’s development needs. The Minister expressed appreciation for the EIB’s €50 million loan for the Rehabilitation of the Warsak Hydro Power Project, underscoring its critical role in restoring the plant’s capacity.
The EIB delegation showed particular interest in the N-5 road widening project, which aims to enhance road connectivity and transportation efficiency, especially in flood-affected areas. Additionally, they are keen on water filtration and industrial water recycling projects in Karachi, as well as renewable and hydropower energy projects, reflecting global trends towards sustainable energy solutions.
The Minister urged the EIB to consider extending technical and financial assistance to the National Transmission Dispatch Company and Pakistan Railways. During a technical session chaired by Kazim Niaz, Secretary of the Ministry of Economic Affairs, the list of 12 potential projects for co-financing was discussed in detail.
Edvardas Bumsteinas responded positively to the discussions, indicating that he would present these projects to senior officials at the EIB headquarters to explore possible funding opportunities. The Minister expressed hope that the EIB would consider funding some of these key projects to support Pakistan’s development agenda.
The Minister also thanked the EU Ambassador and Head of Cooperation for their continuous support and assured the EIB and EU Delegation of the Ministry’s full cooperation in ensuring the efficient utilization of their assistance in Pakistan. This engagement marks a significant step towards strengthening the partnership between Pakistan and the EIB, with a focus on sustainable development and economic growth.
