Govt shares 12 development projects for co-financing with European Investment Bank

The Government of Pakistan has presented a list of 12 potential development projects for co-financing with the European Investment Bank (EIB), during strategic discussions aimed at enhancing collaboration on key infrastructure and development initiatives. 

A visiting EIB delegation, led by Edvardas Bumsteinas, Head of Division for Asia and Pacific, expressed interest in several significant projects, including those already financed by institutions such as the World Bank, the Asian Development Bank (ADB), and the Asian Infrastructure Investment Bank (AIIB).

Welcoming the EIB Mission to Pakistan, the Ministry of Economic Affairs highlighted the importance of this engagement, noting that it could pave the way for stronger partnerships in areas such as climate action, energy, water, and transport. 

During a technical session chaired by the Secretary of the Ministry of Economic Affairs, Kazim Niaz, a list of 12 projects was discussed in detail. 

Among the key projects drawing interest from the EIB is the N-5 road widening project, which aims to improve transportation efficiency in flood-affected areas. 

Additionally, the bank is keen on supporting urban water management efforts, including water filtration and industrial water recycling in Karachi, alongside renewable and hydropower energy projects, reflecting global trends towards sustainable energy solutions.

Federal Minister for Economic Affairs emphasized that EIB’s focus on high-impact global investments aligns with Pakistan’s priorities for sustainable development.

The minister expressed optimism that EIB would consider funding some of these key initiatives to further Pakistan’s development agenda. He also encouraged the delegation to extend technical and financial support to Pakistan Railways and the National Transmission Dispatch Company (NTDC), further strengthening the country’s infrastructure.

Edvardas Bumsteinas indicated that these projects would be reviewed with senior officials at the EIB’s headquarters to explore potential funding opportunities. 

The meeting concluded with the minister thanking the EU Ambassador and the Head of Cooperation for their ongoing support, and assuring the EIB and EU delegation of Pakistan’s commitment to ensuring the efficient utilization of their assistance.