Pakistan, Germany sign 18 million grant for hydropower and renewable energy

Pakistan and Germany have signed a grant agreement worth €18 million aimed at promoting hydropower and renewable energy projects in Pakistan’s northern areas.

The agreement was signed by Muhammad Humair Karim, Secretary of Pakistan’s Economic Affairs Division, and Sebastian Jacobi, Country Director of the German Government Bank for Development (KfW).

According to the agreement, KfW will provide grant assistance to the Government of Pakistan

to support the development of clean and renewable electricity through the use of the region’s abundant water resources.

Officials say the initiative is expected to help improve living standards and livelihoods for local communities.

Speaking at the signing ceremony, Muhammad Humair Karim thanked the German government for its support, saying the assistance would help address the growing energy needs of the region while promoting environmentally friendly solutions.

He said that such initiatives are truly commendable as they are geared to impact the lives of the common man.

He added that Government of Pakistan values this support of the German Government to invest in such schemes and looks forward to further strengthening future cooperation.

Sebastian Jacobi, Country Director, KfW while talking on the occasion said that through this grant assistance the people of the northern areas will have access to the green and sustainable energy, which will contribute towards socio-economic uplift of the masses.

He added that the initiative could also support job creation and encourage tourism in the region.