Meeting reviews EU funded €493million/€108million ongoing/pipeline projects

By Staff Reporter
Thursday – November 5, 2020
ISLAMABAD: The economic affairs (EA) minister Khusro Bakhtyar chaired a high-level portfolio review meeting of the European Union (EU) funded projects, Wednesday, on-going and pipeline projects worth €493 million and €108 million respectively were reviewed.

According to a press release, EA minister Bakhtyar appreciated and thanked the humanitarian assistance provided by the EU during floods and support for temporarily dislocated persons (TDPs), and most recently for COVID-19 (coronavirus) pandemic.

He also appreciated the memorandum of understanding (MoU) on multi indicative programme (MIP) 2014-2020 for Pakistan amounting €618 million including development cooperation in areas of rural development, good governance, human rights, and rule of law in the country.

EA minister Bakhtyar laid stress to streamline sustainable development goals (SDGs) objectives and the European consensus on development 2017.

He underlined the importance for opening up the new bilateral priority areas in the sector of agriculture, industrialisation, digitalisation, and climate change for next MIP 2021-2027.

EA minister Bakhtyar said that Pakistan needed an inclusive economic growth and strengthening of small and medium sized enterprises (SMEs) in post COVID-19 scenario.

He underscored the need for increasing on-budget financing and focusing on concrete, material projects, rather on technical assistance and capacity building with greater involvement of the government of Pakistan (GoP).

EA ministry secretary Noor Ahmed while thanking EU ambassador, urged to initiate the process for next joint meeting and formal consultations for MIP 2021-27 at earliest.

The EU ambassador thanked the EA minister for the meeting and assured to renew the efforts for new agenda and commencement of joint meeting for MIP 2021-27.