Pakistan to get €125.7m from Germany


ISLAMABAD: Germany agreed on Friday to provide €125.7 million ($138.3m) in various sectors including health, energy, and technical and vocational training.

A ceremony was held in this regard at the Ministry of Finance where Secretary Economic Affairs Division (EAD) Tariq Bajwa and Ambassador of Germany to Pakistan Ina Lepel signed four agreements.

Finance Minister Ishaq Dar, who was also present on the occasion, said that out of total assistance, €98.7m was a grant while the remaining €27m would be in shape of soft loan.

Acknowledging the role of Germany in helping Pakis­tan achieve sustainable socio-eco­nomic objectives, Mr Dar said Islamabad valued the relationship dating back to 1961.

He emphasised the need to increase bilateral cooperation in trade, energy and social sectors, and more people-to-people contacts.

Both sides expressed the resolve to continue working to­gether to enhance bilateral ties in areas of mutual interest.

The German ambassador stressed her country’s lasting support to Pakistan in health, energy, technical and vocational training, sustainable development, and support to the displaced people and refugees. She said Germany would soon start new commitment with Pakistan to provide further €94m in various sectors.


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