ISLAMABAD: Germany on Tuesday signed a €129 million financial cooperation agreement with Pakistan for financing development projects in the country.

Funds will be allocated to different projects in Pakistan including for digital governance, social protection, promotion of startups, enhanced use of solar energy, self-employment of women in private health sector and development of hydropower and renewable energy.

Minister for Economic Affairs Omar Ayub Khan, who attended the agreement signing ceremony, appreciated Germany’s enhanced bilateral economic cooperation with Pakistan. “Pakistan and Germany are longstanding development partners and I congratulate both sides on completing 60 years of development cooperation,” Mr Khan said.

Prior to the signing of the agreement, biennial negotiations on development cooperation between the two governments were held. Secretary of Economic Affairs Division Mian Asad Hayauddin led the Pakistan delegation, while the German delegation was headed by Commissioner for Asia at the Federal Ministry for Economic Cooperation and Development Gisela Hammerschmidt and included representatives from the German Foreign Office, KfW, GIZ and the Federal Institute for Geosciences and Natural Resources (BGR).

The two sides took stock of the existing development cooperation and expressed satisfaction at the trajectory of cooperation in different areas since 1961. As a result of the negotiations, Germany committed €129m for future German development cooperation in Pakistan in addition to the on-going portfolio.

Published in Dawn, November 3rd, 2021