Pakistan, KfW sign € 18.00 million  grant for hydropower, renewable energy

ISLAMABAD, Mar 13 (APP): Muhammad Humair Karim, Secretary, Economic Affairs Division and Sebastian Jacobi, Country Director, German Government Bank for Development (KfW) signed a grant agreement.

According to the agreement, KfW will provide grant assistance worth € 18.00 Million to the Government of Pakistan to promote hydropower and renewable energy in the northern areas of Pakistan, said a release issued here on Friday.

The grant funding will contribute to the provision of clean and green electricity in the Northern Areas through utilization of its abundant water resources, improving living standards and livelihoods of the local population and the region.

Mr. Muhammad Humair Karim, Secretary, Ministry of Economic Affairs thanked the German Government for the grant assistance which will be helpful in addressing the increasing energy needs of the region while employing environment friendly solutions. He said that these 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.

Mr. 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. This will also help to create more jobs and promote tourism in the area.