WEB DESK
The European Union on Monday agreed to provide Pakistan with €87 million to improve agricultural value chains, give access to clean energy and enhance the viability of skilled workforce as it backs the country’s flood reconstruction efforts.
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In this regard, a memorandum of understanding was signed between Pakistan and European Union in Islamabad on Monday.
EU Ambassador Dr. Rina Kionka and Economic Affairs Ministry Secretary Dr Kazim Niaz signed the accords for three new development programs.
The funding will improve agricultural value chains, provide access to clean energy and enhance the availability of the skilled labour force in Khyber Pakhtunkhwa, Gilgit Baltistan and Balochistan as part of post-flood rehabilitation through ‘Team Europe Initiative’.
The initiative will also contribute to EU’s Global Gateway, the European strategy to boost smart, clean and secure links in digital, energy and transport sectors and to strengthen health, education and research systems across the world.
EU most valued development partner
EAD Secretary Dr Kazim Niaz expressed gratitude for the EU support.
“EU is the most valued development partner to Pakistan as it held a substantial grant portfolio in Pakistan wherein its focus is, in particular, on the socioeconomic development of vulnerable communities,” he said, adding, “Clean and green energy is a yardstick for any sustainable development, EU support in this particular area is necessary for providing desired impetus to all such efforts by Pakistan”.
He further expressed his hopes that these three Financing agreements will further contribute towards strengthening socioeconomic indicators, as the rural economic transformation, provision of cheap energy and imparting much needed technical training for the youth can greatly benefit poor communities.
“Pakistan has a huge potential thanks to its people and natural resources,” Ambassador Dr Riina Kionka said, adding, “The program we have signed today help to harness that potential by giving Pakistanis the skills to get good jobs, by helping them to use sustainable techniques for agriculture and by providing them access to clean and green energy.”
“Our support comes at a crucial moment, as the country is grappling with an economic crisis and people are still struggling with the effects of the terrible floods,” Dr Kionka said, adding, “We hope that the three programs signed today contribute to economic recovery in the aftermath of the floods and make Pakistan stronger and more resilient.”
KP Rural Economic Transformation (KP-RET) Project €17m
The program aims to improve income of rural households by supporting farmers in their transition towards more sustainable and profitable agriculture, creating employment opportunities and focusing on youth and women.
Energy Plus
A program for providing energy to climate resilience efforts in Gilgit Baltistan and Chitral district of Khyber Pakhtunkhwa would receive €30 million.
The program will create resilient hydropower facilities and support more efficient use of energy for a sustainable transition to renewable energy.
Technical and Vocational Education and Training €40m
The programme builds on the EU’s long-standing support to the Technical and Vocational Education and Training (TVET) sector in Pakistan.
It will work on the provision of adequately skilled labor with a focus on environment friendly skills in the agribusiness, water and energy sub-sectors.
