The European Investment Bank has announced 160 million euros in funding for Pakistan. This support is aimed at helping flood affected areas and improving basic infrastructure. The announcement was made during the EU Pakistan Business Forum held in Islamabad.
To begin with, 100 million euros will be used for rebuilding homes in Sindh. The project will support the reconstruction of houses damaged by floods in different districts. Around 2.1 million homes are expected to be rebuilt under this plan. The focus will also be on safer construction and better living conditions for affected families.
Clean Water Projects for Karachi to Improve Daily Life
In addition, 60 million euros from the package will go to clean drinking water projects in Karachi. Two large water filtration plants will be built to improve water supply in the city. These plants will provide around 300 million liters of clean water every day.
As a result, about 2.2 million people in Karachi are expected to benefit from this initiative. This will help reduce water shortages and improve health conditions for residents.
Meanwhile, officials from the European Investment Bank said the funding is part of the European Union’s Global Gateway strategy. The aim is to support long term development and strengthen public services in partner countries.
Finally, they added that this investment will further strengthen cooperation between Pakistan and Europe. It is also expected to bring lasting improvements for vulnerable communities across the country.
