Islamabad: The European Union (EU) and the Government of Pakistan have signed a series of grant agreements totaling €65 million, aiming to fortify Pakistan’s investment climate, enhance energy resilience, and uphold the rule of law. This collaboration is part of a broader effort to stimulate economic growth and strengthen governance structures in Pakistan.

According to Press Information Department, the agreements were formalized by the EU Ambassador to Pakistan, H.E. Raimundas Karoblis, and Mr. Muhammad Humair Karim, Secretary of the Economic Affairs Division. These initiatives are funded under the EU’s Multiannual Indicative Programme 2021-2027 and comprise three major projects targeting investment, energy, and legal frameworks across various regions in Pakistan.

The ‘Global Gateway development facilitation for Pakistan’ project is designed to enhance the nation’s investment landscape by refining the tax infrastructure and bolstering the government’s fiscal strategy. In Khyber Pakhtunkhwa, the ‘Energy and Natural Environment Resilience’ initiative seeks to expand renewable energy access in rural areas and stimulate private sector investment in the local energy market.

Additionally, the ‘EU Support to the Rule of Law and Business Environment in Pakistan’ aims to improve legal accessibility and dispute resolution processes in KP, Balochistan, Punjab, and Sindh, enhancing the provinces’ appeal to European and international investors.

Ambassador Karoblis emphasized the EU’s dedication to Pakistan’s economic and infrastructural ambitions, while Mr. Karim lauded the EU’s ongoing support, noting the alignment of these projects with Pakistan’s national goals of boosting foreign investment and improving rural energy access.