TDV: Pakistan and Germany have signed a grant agreement worth €18 million aimed at promoting hydropower and renewable energy projects in the country’s northern areas.
The agreement was signed by Muhammad Humair Karim, secretary of the Economic Affairs Division, and Sebastian Jacobi, country director of the German government’s development bank, KfW Development Bank.
Under the agreement, KfW will provide grant assistance to the Government of Pakistan to support the development of clean and renewable electricity by utilising the region’s abundant water resources.
Officials said the initiative is expected to contribute to improved living standards and livelihoods for local communities in the northern areas.
Speaking at the signing ceremony, Karim thanked the German government for its continued support, saying the assistance would help address the region’s growing energy needs while promoting environmentally sustainable solutions.
He said such initiatives were commendable as they were aimed at benefiting ordinary citizens.
Karim added that the Government of Pakistan valued Germany’s support for investing in development schemes and looked forward to further strengthening cooperation in the future.
Speaking on the occasion, Jacobi said the grant would help provide people in the northern areas with access to green and sustainable energy.
He added that the initiative would contribute to the socio-economic uplift of local communities and could also support job creation and encourage tourism in the region.
