ISLAMABAD: Pakistan and Germany on Monday signed an agreement for the Regional Infrastructure Fund (Phase-II) under which the government of Germany will provide a grant of 17.5 million euro for various development schemes in Khyber Pakhtunkhwa (KP).
According to Economic Affairs Division, the signing ceremony for the project named “Regional Infrastructure Fund – II for Khyber Pakhtunkhwa for Resilient Resource Management in Cities (RRMiC)” was held at the Ministry of Economic Affairs wherein Secretary Ministry of Economic Affairs Mian Asad Hayaud Din and Country Director German Bank for Development (kfW) Sebastian Jacobi signed the agreement.
With the funds provided by the German Government, KfW Development Bank will support the KP government in investments in community infrastructure, improvements in capacity and service delivery, citizen participation and equality and consultant and contingency services in two districts of KP province. The purpose is to introduce an integrated, multisectoral, resilient, and sustainable water and solid waste management with a participatory approach in selected tehsil towns.
It may be noted that Pakistan has been a recipient of German Development Assistance since the founding of German Federal Ministry for Economic Cooperation and Development (BMZ) in 1961. The total development assistance encompassing both technical and financial cooperation since 1961 amounts to €3.8 billion.
Country Director KfW Sebastian Jacobi stated that these efforts will result in bringing sustainable and lasting positive impact in the lives of the deserving communities in the country and help mitigate the challenges arisen due to poverty and infrastructure damage due to natural disasters.