Monday, June 17, 2024

EU Allocates €100 Million to Boost Pakistan’s Post-Flood Recovery

The European Union (EU) has unveiled a significant aid package of €100 million aimed at enhancing Pakistan's resilience in the aftermath of devastating floods. EU Ambassador to Pakistan, Riina Kionka, and Dr. Kazim Niaz, Secretary of the Ministry of Economic Affairs, inked five new grant agreements signaling a substantial commitment to bolstering post-flood recovery efforts.

These agreements, formed under Team Europe's response to the 2022 post-flood Resilient Recovery, Rehabilitation, and Reconstruction Framework, mark a noteworthy investment of nearly EUR 100 million, equivalent to over Rs30 billion. The focus areas of this support package include revitalizing the rural economy in Khyber Pakhtunkhwa and restoring disrupted livestock value chains in flood-affected Balochistan.

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Aligned with the EU Global Gateway initiative, the largest EU investment program driving the global green transition, these initiatives aim to fortify Pakistan's long-term resilience through targeted investments in human rights, gender equality, and civil society.

Expressing gratitude for the EU's support, Secretary Dr. Kazim Niaz highlighted the ongoing needs in flood-affected areas that necessitate the assistance of development partners. Meanwhile, EU Ambassador Dr. Riina Kionka reiterated the EU's commitment to Pakistan's recovery, emphasizing a collaborative effort to build back better and improve lives in the most affected communities.

The EU's commitment to Pakistan extends beyond immediate relief efforts, encompassing a vision of a stable, democratic, and pluralistic country that upholds human rights and maximizes its economic potential. Annually, the EU provides approximately EUR 90 million in grants for development and cooperation, supporting initiatives to combat poverty, enhance education, promote good governance, human rights, rule of law, and ensure sustainable natural resource management across various regions of Pakistan.

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Zayn
Zayn
Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

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