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Pakistan, Germany sign Rs700mn agreement on renewable energy

Pakistan, Germany sign Rs700mn agreement on renewable energy

ISLAMABAD: Germany will provide technical assistance, worth Rs700 million, to Pakistan in the field of renewable energy and energy efficiency.

An agreement was signed between Secretary Economic Affairs Noor Ahmed and Ambassador of Germany to Pakistan Bernhard according to which Germany will provide technical assistance to Pakistan under the Pakistan-Germany Development Programme, worth 4 million euros or Rs700 million.

The technical assistance will be provided under the project titled, “Promotion of Renewable Energy and Energy Efficiency Concepts in Cities and Industries,” which is one of the priority areas of the Government of Pakistan.

Both, secretary economic affairs and ambassador of Germany to Pakistan stressed on strengthening bilateral relations in the future.

The development cooperation between Pakistan and Germany dates back to 1961, with the funding volume to date totaling more than 3 billion euros.