European Union (EU) and Pakistan have signed a €20 million agreement on Thursday to strengthen Pakistan’s economy.
According to details surfaced on Thursday, the agreement was signed by European Union Ambassador to Pakistan Dr Riina Kionka and Secretary for Economic Affairs Dr Kazim Niaz. According to the Economic Affairs Division (EAD), the €20 million grant will be utilised to improve governance and create a more conducive business environment.
“The objective of this initiative is to enhance the competitiveness of small and medium-sized enterprises (SMEs),” said a spokesperson for the EAD. Secretary Niaz expressed gratitude to the EU for its continued support and partnership.
He stated that the programme is fully aligned with the goals of the “Uraan Pakistan” initiative. Kionka reflected the EU’s commitment to long-term economic cooperation.
Kionka added that the EU was also investing in women-led businesses and partnerships, reaffirming the commitment to inclusive economic development.