Germany will provide a technical grant of 23.4 million euros (Rs3.9 billion) to Pakistan in order to help the latter implement social sector reforms.
In this regard, a Technical Cooperation Agreement was signed on Thursday between Economic Affairs Division Secretary Noor Ahmed and Ambassador of Germany to Pakistan Bernhard Stephan Schlagheck under the Pakistan-Germany Development Programme. Economic Affairs Minister Hammad Azhar was also present on the occasion.
As per a statement issued by the division, the technical assistance would be extended to projects related to social protection, technical and vocational education, local governance and labour standards in Pakistan’s textile industry.
“These schemes are in line with the priority areas of the government and are geared towards impacting the lives of the common people,” it added.
Development cooperation between Pakistan and Germany dates back to 1961, with the funding volume to date totalling more than €3 billion.
The contracting parties lauded the cordial relations between the two countries and looked forward to strengthening their cooperation in diverse sectors. Both sides stressed the need for active collaborations to ensure finalisation of project objectives so that concerns of the end beneficiaries could be addressed.
Economic Affairs Minister Hammad Azhar on the occasion thanked the German government for the grant assistance, especially in priority areas highlighted by Pakistan.