Germany to provide €22.4m to Pakistan for Projects including Solar Energy

ISLAMABAD: Pakistan and Germany on Friday signed a financial agreement worth €22.4 million to support existing projects in the areas of renewable energy, grid connectivity and access to financial services.

As per the agreement, which was signed as part of the Pakistan-Germany Development Programme, the German side would facilitate access to finance in Pakistan through a microfinance initiative with the Pakistan Microfinance Investment Company (PMIC).

Economic Affairs Division Secretary Noor Ahmed and German Charge’ d Affaires Dr Jens Jokisch signed the agreement. Economic Affairs Minister Hammad Azhar was also present on the occasion.

The financial agreement also includes support for social health protection schemes in Khyber Pakhtunkhwa and Gilgit-Baltistan which are aimed at providing health insurance to the underprivileged masses and investments for polio eradication in collaboration with the Ministry of National Health Services.

Source : Pakistan Today