ISLAMABAD: Pakistan and the European Union (EU) on Thursday signed a €20 million grant agreement to launch the “Better Governance and Business Environment” initiative, aimed at strengthening governance and improving competitiveness of the private sector, particularly small and medium enterprises (SMEs).
The agreement was signed by EU Ambassador Dr Riina Kionka and Secretary Economic Affairs Division Dr Kazim Niaz. The programme is part of the EU’s Multiannual Indicative Programme 2021-2027.
ADB spells out factors threatening ‘modest’ recovery
According to officials, the initiative will support SME-related legislation, promote the green transition of export-oriented businesses, and encourage targeted investments aligned with the EU’s Global Gateway strategy, the GSP+ framework, and the EU Green Deal.
Dr Niaz thanked the EU for its continued support, terming the programme a timely intervention aligned with the government’s “Uraan Pakistan” strategy for institutional reforms and responsible private sector growth.
Ambassador Kionka said the EU is committed to helping Pakistan build a more inclusive and sustainable economy by investing in green innovation, women-led enterprises, and public-private partnerships.
The EU’s development cooperation with Pakistan continues to focus on climate resilience, human rights, governance, and sustainable economic growth.
American Dollar Exchange Rate