Agreement signed: Germany to give Rs1.95bn technical aid for two projects

ISLAMABAD: The government of Pakistan and the Federal Republic of Germany signed the technical cooperation agreement worth €10 million (around Rs1.95 billion) for two projects, ie, “Promoting Resilience against Impacts of Natural Disaster in Pakistan,” and “Improvement of Labour, Social and Environmental Standards in Pakistan Textile Industry”.

The agreement was signed by Noor Ahmed, secretary, Ministry of Economic Affairs on behalf of the Government of Pakistan, and Bernhard Schlagheck, Ambassador of Germany to Pakistan.

The Economic Affairs Ministry in an official statement said that under the agreement, Germany will provide technical assistance worth €10 million (approx Rs1.95 billion).

The assistance will be for two projects. The aim of the project “Promoting Resilience against Impacts of Natural Disaster in Pakistan” is to technically equip the disaster management authorities to support in development planning and implementation to reduce disaster risks.

Furthermore, the project, “Improvement of Labour, Social and Environmental Standards in Pakistan Textile Industry” at improving the framework conditions for the implementation of labour standards in the province of Punjab.

The project will also support the dialogue between state, private and civil society stakeholders and promotes incentives, and advise companies to improve labour standards.

Development cooperation between Pakistan and Germany dates back to 1961 with funding volume to-date totaling more than €3 billion.

On this occasion, the two sides reiterated their resolve to further strengthen bilateral cooperation.

Copyright Business Recorder, 2020