The European Investment Bank (EIB) has resumed operations in Pakistan after a decade, signing a €160 million financing agreement in collaboration with the European Union to support key development projects.
According to official announcements, the funding will primarily focus on post-flood rehabilitation and water infrastructure. Of the total amount, €100 million has been allocated for a housing project in Sindh aimed at constructing 2.1 million homes for flood-affected populations.
An additional €60 million will be invested in improving water supply systems in Karachi, where the project is expected to provide up to 300 million litres of clean drinking water daily.
As part of the initiative, modern water filtration plants will be established in Gharo and Pipri to enhance water quality and accessibility.
Officials said the agreement marks a significant step toward strengthening Pakistan’s infrastructure, addressing the needs of flood victims, and improving access to safe drinking water in urban areas.