Advertisement
Categories: BusinessNewsWorld

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

Advertisement

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.

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.

Advertisement
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.

Recent Posts

Pakistan to Witness Nearly 7 Million Animal Sacrifices on Eid-ul-Adha

Pakistan is expected to witness the sacrifice of more than 6.97 million animals during Eid-ul-Adha…

4 hours ago

US Tech Fund commits $10 million to 2 Pakistani IT entrepreneurs

Pakistan's two IT entrepreneurs-- Mehwish Salman Ali and Malik Mudassir—will receive funding of $10 million…

8 hours ago

Spotify’s Fresh Finds Celebrates a Decade of Discovering Breakout Talent

Spotify has announced a major milestone for 2025 - 10 years of Fresh Finds, the…

9 hours ago

Sindh Govt Bans Qingqi Rickshaws in Karachi, Imposes Heavy Fines Under New Traffic Reforms

Sindh’s Minister for Law and Home Affairs, Ziaul Hassan Lanjar, has approved sweeping changes to…

9 hours ago

AKU LEADS with micro-credentials: A flexible programme for academic advancement, upskilling and reskilling

Today, the world is changing rapidly more so than ever before with disruptive technological development…

9 hours ago

Aeon & Trisl Secures Emaar’s Top Broker Title for Q1 2025 – 7 Quarters in a Row

Aeon & Trisl Real Estate Group has once again claimed the coveted title of Emaar’s…

9 hours ago