Islamabad, 21 August 2024 (TDI): The € 91.1 million German contribution for Pakistan’s post-flood, climate-resilient rehabilitation was acknowledged by Minister of Economic Affairs Ahad Khan Cheema on Wednesday.
Together with a delegation of German parliamentarians, the German ambassador to Pakistan, and other high-ranking officials, Mrs. Svenja Schulze, Federal Minister for Economic Cooperation and Development (BMZ), Government of the Federal Republic of Germany, paid a visit to Mr. Ahad Khan Cheema, Minister for Economic Affairs.
Upon her arrival in Pakistan, the Federal Minister for Economic Cooperation and Development, along with her team, was greeted by Minister of Economic Affairs.
In particular, he emphasized Germany’s bilateral economic support and help to Pakistan in achieving GSP+ status. He expressed gratitude to the German government for being an important development partner.
He additionally conveyed his appreciation for Germany’s € 91.1 million contribution to Pakistan’s rehabilitation efforts following the floods, which is climate resilient.
He also recognized that the two nations had been partners since 1961 and that the Federal Republic of Germany had contributed a total of € 4 billion in development aid to both countries.
As important priority areas for advancing the government’s economic plan, the Minister emphasized income creation, export-led growth, enhanced agriculture, information technology, and human resource development.
He went on to stress that the reforms are being implemented inside the parameters set forth by the IMF. The Minister of Economic Affairs also expressed gratitude to Germany for its support of Pakistani hydropower projects and the Pakistan German Climate and Energy Coalition. He hoped that the German government would keep funding initiatives related to renewable energy and climate change and that funding for the pipeline would not be reduced.
German Minister emphasized that the partnership between Germany and Pakistan has survived the test of time and yielded notable results in the areas of cooperation that have been jointly identified.
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During this occasion, the German Federal Minister declared that Pakistan will receive €24 million from the Federal Republic of Germany for projects related to emissions trading and sustainable energy. In addition, she recognized Pakistan’s textile industry’s potential and underlined the necessity of its continued growth as well as future Pakistan-German cooperation in this area.
Both parties concurred that the growth of SMEs and climate-friendly projects are essential to Pakistan’s economy.
