By our correspondent
ISLAMABAD: Pakistan and Germany’s government-owned development bank, KfW, signed an 18 million euros grant agreement to promote hydropower and renewable energy in the country’s northern regions. The agreement was formalized by Secretary of the Economic Affairs Division, Muhammad Humair Karim, and KfW Country Director, Sebastian Jacobi, in a ceremony marking the collaboration.
Under the terms of the agreement, the grant would support the generation of clean electricity by harnessing the abundant water resources of the northern areas. Officials said the initiative aimed to provide environmentally friendly energy solutions while improving the living standards and livelihoods of local communities. The project was seen as a step towards meeting Pakistan’s growing energy needs without compromising environmental sustainability.
Speaking on the occasion, Secretary Karim expressed gratitude to the German government for its support. He highlighted that the initiative would help expand access to electricity in remote areas, offering a reliable and green alternative to traditional power sources. Karim added that the project’s focus on renewable energy could serve as a model for future cooperation in the energy sector.
KfW Country Director Jacobi noted that the project would contribute to socio-economic development, creating new job opportunities and boosting tourism in the northern regions. He said that expanding access to sustainable energy could have wider benefits, including promoting local businesses, improving education and health services, and enhancing the overall quality of life for residents.
The agreement reflected growing international collaboration in renewable energy development and underscored the shared commitment of Pakistan and Germany to environmentally sustainable solutions.
