ISLAMABAD, Nov 18: The European Union, as part of its framework of economic cooperation, has initiated the EU-Pakistan SPF (Small Projects Facility) to improve bilateral relationships and mutual visibility by promoting and supporting innovative projects in the field of governance and administrative reforms.

The first call for financing attracted 60 applicants out of which only 15 were short-listed and later the Association of Chartered Certified Accountants (ACCA Pakistan) was selected as one of the only two projects, to be offered financing by the EU.

The ACCA Pakistan project “Sustainability: A modern myth or a genuine business case” comprises a number of activities including a conference to be held here at a local hotel on November 21 and 22.

Michael Dale, Head of Operations, EC Delegation to Pakistan and Arif Masud Mirza, Head of ACCA Pakistan told newsmen at a media launch of the conference here on Friday.

They hoped the conference will be a milestone in the development of sustainable business practices in Pakistan.

The conference will be addressed by speakers from world class European business, local businessmen, government ministers and trade body representatives.

The ACCA Pakistan project funded by EU under the one million Euro SPF falls within the area of “business to business” cooperation in specific sectors of common interest to both EU and Pakistan.

The emphasis is on the promotion and implementation of aspects of corporate responsibility and environmental and social best practices.

The Delegation of the European Commission (EC) in Pakistan is one of the 128 EC delegations around the world. It opened in 1985 with the objective of fostering closer ties between the European Union and Pakistan.—APP