ISLAMABAD: Secretary Economic Affairs Division Muhammad Humair Karim and Country Director, German Government Bank for Development (KfW), Sebastian Jacobi have signed a grant agreement under which KfW will provide €18 million in assistance to the Pakistan government to promote hydropower and renewable energy in Northern Areas.
The grant funding will contribute to the provision of clean and green electricity in the Northern Areas through utilisation of its abundant water resources in order to improve living standards and livelihoods of the local population and the region.
Speaking on the occasion, Humair Karim thanked the German government for the grant assistance, saying it will be helpful in addressing the increasing energy needs of the region while employing environment-friendly solutions.
“These initiatives are truly commendable as they are geared to impact the lives of the common man,” he said, adding: “The Pakistan government values this support of the German government to invest in such schemes and looks forward to further strengthening future cooperation.”
Sebastian Jacobi said 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 create more jobs and promote tourism in the area.”
