ISLAMABAD: The German Development Bank, known as KfW, will provide 17.5 million euros to the Khyber Pakhtunkhwa government for development projects over the next five years.

KfW Development Bank’s Country Director Sebastian Jacobi and Economic Affairs Division Secretary Asad Hayauddin signed the agreement on behalf of their respective governments here on Monday.

Under the agreement, the financing would cover drinking water supply schemes and develop water and solid waste management infrastructure in Dera Ismail Khan and Bannu districts of Khyber Pakhtunkhwa.

These projects will scale up resilient resource management in KP cities which the KfW has already successfully piloted in Mansehra.

The German federal ministry for economic cooperation and development (BMZ) is financing the project through KfW.

The KfW’s financial cooperation with Pakistan comprises three focal areas: good governance; climate and energy; and sustainable economic development.

The BMZ has invested about 400 million euros in Khyber Pakhtunkhwa through the KfW.

A press release of the German embassy said the project had been designed in consultation with stakeholders in the federal and provincial governments.

Published in Dawn, August 3rd, 2022