Islamabad: An €18 million grant agreement was signed between Pakistan and the German Government Bank for Development, known as KfW, to promote hydropower and renewable energy initiatives in Pakistan’s northern regions. The agreement aims to facilitate the provision of clean energy by leveraging the area’s water resources, with a focus on improving local living standards and livelihoods.

According to Press Information Department, the signing ceremony featured Mr. Muhammad Humair Karim, Secretary of the Economic Affairs Division, and Mr. Sebastian Jacobi, Country Director of KfW. Mr. Karim expressed his gratitude for the grant, highlighting its role in addressing regional energy demands with environmentally sustainable solutions. He emphasized the significance of the German government’s support in these ventures.

Mr. Jacobi stated that the grant would ensure access to green energy, contributing to the socio-economic development of the northern areas. He noted that the initiative is expected to generate employment opportunities and boost tourism in the region.