ISLAMABAD, Jul 26 (APP):Pakistan and Germany Friday signed an agreement under the Pakistan-Germany Development Programme for financial assistance of Euro 22.4 million to support existing projects in the area of renewable energies, better grid connections and improved access to financial services through micro finance initiative with Pakistan Microfinance Investment Company (PMIC).
Secretary, Economic Affairs Division, Noor Ahmed and the Charge’ d’ Affaires of the German Embassy in Islamabad, Dr. Jens Jokisch signed the agreement while Federal Minister for Economic Affairs, Muhammad Hammad Azhar witnessed the signing ceremony.
The agreement also includes support for Social Health Protection schemes in Khyber Pakhtunkhwa and Gilgit Baltistan to provide health insurance to underprivileged masses and investments for polio eradication in collaboration with Ministry of National Health Services, Regulation and Coordination.
According to press statement issued by the Economic Affairs Division, the development cooperation between Pakistan and the Federal Republic of Germany dates back to 1961, with the funding volume to date totaling more than Euro 3 billion.
The contracting parties underlined that good relations between Germany and Pakistan and looked forward to strengthening their cooperation and having meaningful deliberations in the upcoming Government to Government Negotiations in Berlin, 2019 to commit funds for future projects / proposals.
On the occasion, Hammad Azhar thanked the German Government for the grant assistance geared towards the betterment of the people of Pakistan.
He opined that the financial assistance from Germany would support key priority sectors of the government like renewable energy, social health protection and access to financial services.
He said Government of Pakistan honours and appreciates financial cooperation from the Government of Federal Republic of Germany and looks forward to strengthen bilateral relations in future specifically after the Government to Government negotiations in September, 2019.