Pakistan and the German Government Bank for Development (KfW) have signed an 18 million euros grant agreement to promote hydropower and renewable energy in the northern areas of the country.
The agreement was signed by Secretary Economic Affairs Division Muhammad Humair Karim and KfW Country Director Sebastian Jacobi.
Under the agreement, the grant will support the generation of clean and green electricity by utilizing the region’s abundant water resources, aiming to improve living standards and livelihoods of local communities.
Speaking on the occasion, the Secretary Economic Affairs Division thanked the German government for the assistance, saying the project would help meet growing energy needs through environmentally friendly solutions and positively impact local communities.
The KfW Country Director said the initiative would expand access to sustainable energy in the northern areas, contributing to socio-economic development, job creation and tourism promotion in the region.
