- Settlement formalises financing for water infrastructure framework.
- Key wastewater remedy amenities to be constructed underneath undertaking.
- Declaration signing underscores momentum in Pak-EU cooperation.
Pakistan and the European Funding Financial institution (EIB) on Wednesday signed a €60mn declaration to advance a serious undertaking geared toward bettering sewage and wastewater administration in Karachi.
The declaration was signed on the sidelines of the fifteenth Pakistan-European Union Joint Fee, being held in Brussels from December 15–17, by Ministry of Financial Affairs Secretary Muhammad Humair Karim, and European Funding Financial institution (EIB) Head of Division (Asia Pacific) Edvardas Bumsteinas.
The signing ceremony was witnessed by European Fee Deputy Director-Common for Worldwide Partnerships Myriam Ferran, Ambassador of Pakistan to the European Union Rahim Hayat Qureshi, head of the EU delegation to Pakistan Raimundas Karoblis, and European Exterior Motion Service (EEAS) Performing Managing Director Paola Pampaloni.
The settlement formalised EIB financing for the Karachi Water Infrastructure Framework undertaking that can assist the rehabilitation and development of key water remedy amenities in Karachi.
With an EIB financing package deal of roughly €60 million, this initiative is ready to considerably increase protected water provide and improve water safety for Karachi’s quickly rising inhabitants.
The undertaking displays Pakistan’s dedication to modernising important city providers and selling climate-resilient infrastructure in one of many nation’s largest metropolitan areas.
Talking on the signing, Karim welcomed the EIB’s elevated engagement in Pakistan and underscored the significance of deepening cooperation with European companions to deal with crucial improvement and infrastructure wants.
He expressed appreciation for the EIB’s rising footprint in Pakistan and conveyed Pakistan’s curiosity in increasing the pipeline of EIB-supported tasks in precedence sectors.
The signing demonstrates the continued momentum in Pakistan-EU cooperation and highlights shared priorities in sustainable improvement, public service supply, and local weather and environmental resilience.
