Pakistan, Germany Sign Agreement For Regional Infrastructure Fund (Phase-II)

Pakistan, Germany Sign Agreement For Regional Infrastructure Fund (Phase-II)

Govt of Germany, through KfW Development Bank, will provide a grant of Euro 17.5m to Govt of Pakistan for project



ISLAMABAD    –   The signing ceremony for the project named “Regional Infrastructure Fund–II for Khyber Pakhtunkhwa for Resilient Resource Management in Cities (RRMiC)” was held between both government of Pakistan and Federal Republic of Germany in the Ministry of Economic Affairs on Monday.

Mian Asad Hayaud Din, Secretary Ministry of Economic Affairs, and Sebastian Jacobi, Country Director KfW (German Bank for Development) signed the agreement. Government of Germany, through the KfW Development Bank, will provide a grant of Euro 17.5 million to the Government of Pakistan for the project. This is also to 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. With the funds provided by the German Government, KfW Development Bank will support the Government of Khyber Pakhtunkhwa 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, multi-sectoral, resilient, and sustainable water and solid waste management with a participatory approach in selected tehsil towns. Sebastian Jacobi, Country Director KfW stated that KfW is actively supporting the Government of Pakistan in the Governance Sector.

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. Mian Asad Hayaud Din, Secretary Ministry of Economic Affairs expressed gratitude to the Government of Federal Republic of Germany for supporting the people of Pakistan through the projects. He further stated that the investments will lead to a better and healthy future for the generations to come.

Share this:

Written by Web Desk

Leave a Reply

Your email address will not be published. Required fields are marked *

TOKYO: Japan’s Prime Minister Fumio Kishida has warned that “international momentum” to rid the world of nuclear weapons “is decreasing remarkably.” “The divisions surrounding nuclear disarmament have been deepening, and Russia has made threats to use nuclear weapons,” Kishida said in a statement early on Monday as he left for New York to attend the UN Review Conference of the Parties to the Treaty on the Non-Proliferation of Nuclear Weapons (NPT). This is the first time that the meeting will be attended by a leader from Japan, the only country to have suffered nuclear strikes in war. Kishida said he was heading to the meeting with “a profound sense of crisis.” “I will work to reverse the diminishing momentum towards the realization of a world without nuclear weapons, taking this conference as an opportunity to reinvigorate international enthusiasm towards that goal,” he said. The US dropped nuclear bombs on the Japanese cities of Hiroshima and Nagasaki in August 1945 during World War II, with the strikes and their aftermath claiming at least 140,000 lives by the end of that year. Japan has since adhered to a pacifist constitution and led efforts to end the use of nuclear weapons. To date, 191 countries have signed the NPT, which entered into force in 1970 and aims to prevent the spread of nuclear arms and technology, promote peaceful uses of nuclear energy, and help achieve nuclear disarmament. The signatories include five nations that possess nuclear weapons: China, Russia, Britain, the US, and France. The other four known to have nuclear warheads — India, Israel, North Korea, and Pakistan — are currently outside the NPT. Israel, however, has neither officially denied nor admitted to having nuclear weapons. The Stockholm International Peace Research Institute (SIPRI) has warned that the global nuclear stockpile is likely to grow in the coming decade for the first time since the Cold War. Nuclear-armed nations are looking to modernize and expand their arsenals at a rate that will likely increase over the next decade, the institute said in a report released last month. According to SIPRI, Russia and the US together possess over 90% of the 12,705 nuclear weapons in the world. As of this January, Russia had 5,997 and the US 5,428 warheads, followed by China with 350, France 290, the UK 225, Pakistan 165, India 156, Israel 90, and North Korea with 20, the data showed.

Japan sounds alarm over faltering global push to eliminate nuclear weapons

Outrage as another Kashmiri journalist stopped from flying abroad

Outrage as another Kashmiri journalist stopped from flying abroad