ISLAMABAD: The Pakistani government and the European Union signed three grant agreements Monday worth a total of 65 million euros, about 20.64 billion rupees, to launch programs focused on investment, energy resilience and rule of law.
The agreements were signed by EU Ambassador to Pakistan Raimundas Karoblis and Muhammad Humair Karim, secretary of the Economic Affairs Division.
Funded under the EU's Multiannual Indicative Programme 2021-2027, the programs are the Global Gateway development facilitation for Pakistan, Energy and Natural Environment Resilience in Khyber Pakhtunkhwa, and EU Support to the Rule of Law and Business Environment in Pakistan.
The Global Gateway project aims to attract more foreign investment by improving Pakistan's tax system and strengthening the government's long-term financial planning.
The energy program is designed to expand renewable energy in rural Khyber Pakhtunkhwa communities not connected to the electricity grid. It will also provide training to attract private investment and increase private sector involvement in the province's energy sector.
The rule of law program, building on previous EU assistance, will help people access police, prosecution, courts and legal aid in Khyber Pakhtunkhwa and Balochistan.
It will also support Punjab and Sindh provinces in expanding alternative and commercial dispute resolution mechanisms in legal cases, with the aim of drawing more European and other companies to invest there.
Karim expressed appreciation for the EU's continued support and partnership, saying the programs are timely and closely aligned with Pakistan's goals of increasing foreign investment, improving access to electricity in off-grid rural areas of Khyber Pakhtunkhwa, and advancing rule of law standards and commercial dispute resolution.
Karoblis said the agreements demonstrate the EU's commitment to supporting Pakistan's economic development and investment ambitions under the Global Gateway initiative.
"They will also support the authorities in KP to build a stronger and resilient energy sector while promoting the sustainable management of natural resources," he said. "The Rule of Law will further strengthen access to justice for citizens in KP and Balochistan."
Punjab and Sindh will benefit from EU support to strengthen alternative and commercial dispute resolution through collaboration with the judiciary, legal professionals, universities and the business community, Karoblis said.
