Saturday August 13, 2022

EU to grant 265mn euros to Pakistan under MIP

By Our Correspondent
August 05, 2022

ISLAMABAD: The European Union (EU) would provide an initial grant of € 265 million to Pakistan under a recently launched EU Multi-Annual Indicative Program (MIP) for 2021-2027, it envoy said on Thursday.

Ambassador of the European Union to Pakistan, Dr Riina Kionka called on Federal Minister for Economic Affairs, Sardar Ayaz Sadiq in his office on Thursday, where matters of mutual interest were discussed.

Sadiq welcomed the ambassador and extended gratitude for taking out time to visit the ministry. He further appreciated the reciprocal and congenial relations that Pakistan shares with EU and apprised the ambassador that the development cooperation between Pakistan and the EU goes back to 1976 and Pakistan was looking forward to further enhance those relations.

Moreover, he highlighted the current flood situation in the country and apprised Dr Kionka about the donor coordination in immediate flood relief during this disastrous situation.

She appreciated the effort and further assured coordination between both parties on achieving Sustainable Development Goals (SDGs).

The meeting was followed by joint launching of MIP, with an initial grant of 265 million euro, between Dr Kionka and Secretary of the Economic Affairs Division (EAD), Mian Asad Hayaud Din.

“This grant provided by the European Union will support the goals set out by the government of Pakistan in its Vision 2025,” Mian Asad said.

The objectives of the current MIP are guided by the country’s strategic development priorities and the overall geopolitical programme of the European Commission (2019-2024), with the aim to further enhance integrated cooperation, as outlined under the Strategic Engagement Plan (2019).

The indicative allocations for 2025-2027, as well as the possible modification of other substantial elements of this MIP would be carried out through an inclusive mid-term review of its implementation, jointly with national authorities and civil society.

The MIP would support Pakistan’s Vision 2025 through a Team Europe approach together with the EU member states. The Team Europe approach would deliver on the EU’s global gateway at country level. The proposed approach would support a green economic recovery by collectively investing in and transforming the sectors that generate green jobs.

“The EU multiannual indicative programme for Pakistan sets out the EU’s development strategic objectives in support of a stable, democratic and pluralistic Pakistan, in line with the EU-Pakistan Strategic Engagement Plan (2019), which frames the relationship between the European Union and the Islamic Republic of Pakistan,” said Dr Kionka.