News

EU announces €100m grant to strengthen post-flood resilience in Pakistan

By News Desk

January 29, 2024 05:56 PM


Twitter Share Facebook Share WhatsApp Share

The European Union (EU) has announced a substantial grant of 100 million Euro to enhance post-flood resilience in Pakistan, marking a significant investment in the country's recovery efforts, reported the 24NewsHD TV channel.

The grant aims to fortify Pakistan's ability to withstand and recover from the devastating impacts of floods.

According to the Economic Affairs division, the European Union (EU) Ambassador to Pakistan, Riina Kionka, and Dr Kazim Niaz, Secretary of the Ministry of Economic Affairs, signed five new EU grant agreements.

These agreements, under Team Europe’s response to the 2022 post-flood Resilient Recovery, Rehabilitation, and Reconstruction Framework, signify a substantial commitment of nearly EUR 100 million (equivalent to over Rs30 billion).

The new EU support package aims to fortify Pakistan’s resilience in the aftermath of the floods, bringing the total Team Europe response to the 2022 floods to over EUR 930 million.

The specific focus areas include revitalizing the rural economy in Khyber Pakhtunkhwa and restoring the disrupted livestock value chains in flood-affected Balochistan.

Notably, these activities align with the expansive EU Global Gateway initiative, the largest EU investment program designed to propel the global green transition.

Moreover, the package extends its impact by fortifying Pakistan’s long-term resilience through targeted investments in human rights, gender equality, and civil society.

Secretary Dr Kazim Niaz thanked the EU for their support and further emphasised that there are unmet needs in the flood affected areas that require assistance of development partners.

EU Ambassador, Dr Riina Kionka, stated; “Pakistan is not alone in overcoming its challenging phase of economic crisis and flood recovery.

The EU and Team Europe partners are committed to building back better, sustainably improving lives in the most affected communities in KP and Balochistan.

 The EU’s commitment to Pakistan encompasses a vision of a stable, democratic, and pluralistic country that respects human rights and maximizes its economic potential.

The EU annually provides approximately EUR 90 million in grants for development and cooperation, supporting Pakistan’s initiatives to combat poverty, enhance education, promote good governance, human rights, rule of law, and ensure sustainable natural resource management.

The EU’s cooperation spans across all of Pakistan, with a special focus on Khyber Pakhtunkhwa, Gilgit Baltistan, Balochistan, and Sindh.

 

 

Reporter: Waqas Azeem 


News Desk


Most Read

  1. Public Holiday announced in Lahore tomorrow Public Holiday announced in Lahore tomorrow
  2. Solar panel rate sinks massively in Lahore Solar panel rate sinks massively in Lahore
  3. Hina Rizvi ties the knot with Ammar Ahmed Khan Hina Rizvi ties the knot with Ammar Ahmed Khan
  4. Police claim girl seen in sub-inspector’s video was his second wife Police claim girl seen in sub-inspector’s video was his second wife
  5. Foreigners safe after suicide-bomber targets their van in Karachi Foreigners safe after suicide-bomber targets their van in Karachi
  6. LHC orders steel mill demolition over pollution LHC orders steel mill demolition over pollution

Opinion

  1. Islamabad becoming the hub of international diplomacy
    Islamabad becoming the hub of international diplomacy

    By Salim Bokhari

  2. Insights into the Pakistan Stock Exchange's Recent Record High Triumph
    Insights into the Pakistan Stock Exchange's Recent Record High Triumph

    By Zulfiqar Ali Mir

  3. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  4. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  5. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  6. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay