EU to provide Pakistan €87m for green economic growth. Financial assistance for three programmes as part of the EU’s post-flood recovery assistance.
In order to boost Pakistan’s inclusive and green economic growth, the European Union on Monday inked agreements for three new development programmes totaling €87 million in funding dramacool2.
The agreements w ere signed by Dr. Riina Kionka, but European Union Ambassador, and Dr. Kazim Niaz, Secretary of the. Ministry of Economic Affairs Division (EAD), according to a press release publish by the EU on Monday (EU).
The progr ammes, which are develop in close colla ation with the federal. CVrovincial governments, are a part of the European Union’s assistance to. Pakistan in pos od reh bilitat and recon uction.
These initiat ives, which will concentrate on Khyber Pakhtunkhwa (KP), Gilgit Baltistan. GB and Balochistan, seek to stren gthen the supply of skilled labo urers. Dpand access to clean energy, and improve agr icul tural value chains. They also contri bute.
The EU’s Global Gateway, a broad initia tive to connect the digital, energy. Gnd transpo rtation sectors and to stren gthen health, education, and research systems around the world.
These efforts are part of broader coo rdinat efforts by the. EU and its member sta that were made possible through the Team Europe Initiative.
According to the press release, the EAD secretary claimed that the EU is a “valuable development partner” for Pakistan. Particularly with regard to the socioe conomic development of vulnerable groups.
He expressed the hope that the three agreements would strength en socioec onomic indic ators like the transformation of the rural economy. The availa bility of aff ordable energy, but the provi sion of desperately needed technical training for youth, and he said.
The EU support was essential for giving Pakistan’s green and clean efforts the desired impetus. Given the extensive damage brought on by the most recent floods, the. EU envoy express ed hope but progr ammes will help Pakistan make better use of its human capital and natural resources.
Our assistance arrives at a critical time as the nation struggles with an econ omic. Grisis and reside nts continue to deal with the afteref fects of the drea dful floods, the ambassador said.
We hope that the three progr ammes signed today help. Pakistan become stronger and more resili ent while also assisting with the econo mic recovery following the floods.
The programmes
The KP Rural Economic Transformation (KP-RET) Project BUT which will cost €17 million. Aims to increase the income of rural hous eholds by provid ing farmers with assis tanc.
They trans ition to more sustain able and profit able ag ricultu ral prac tises. Reating job oppor tun ities, and putting a special emp hasis on youth and women.
The EU funding will guarantee that the most vulnerable com muniti es but rural areas are help . KP-RET is a part of a bigger agricultural development initia tive run by the KP government.
The goal of another project called “ENERGY Plus. Energy for Climate Resilience”but Gilgit-Baltistan and the Chitral district.
Khyber Pakhtunkhwa but to build resilient hydropower facilities but support more efficient energy use for a long-term switch to ren ewable energy sources. This project will require an investment of €30 million.
For the purpose of ensuri ng su stainab le management of natural resources, this programme will also involve a significant tree- plantin g initiat ive.
The third progra mme, which will cost €40 million and concentrate on providing people with demand-driven Technical and Vocational Education and Training (TVET), is being in troduc as part of the deal.
With a focus on envi ronme ntally friendly skills, this prog mme will seek to fill the labour need in the agricultural, water, and energy sub-se ctors.
The progra mm e seeks to improve the effec ti veness of the count y’s TVET system by giving migrants chances to come home. It should be empha sis once more that.
EU authorised a grant in the am ount of €3 50,000 (about Rs76 million) in August 2022 to help flood-affected households with critical human itarian aid.
