The Khyber Pakhtunkhwa government will receive 17.5 million euros from the German Development Bank, or KFW, for development initiatives over the next five years.
Asad Hayauddin, secretary of the Economic Affairs Division, and Sebastian Jacobi, country director for the KfW Development Bank, signed the agreement on Monday on behalf of their respective governments.
According to the agreement, funding will be provided for the construction of water and solid waste management infrastructure as well as drinking water delivery programs in the Khyber Pakhtunkhwa districts of Dera Ismail Khan and Bannu.
These initiatives will extend resilient resource management, which the KfW had successfully tested in Mansehra, in KP cities.
The initiative is being funded by KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
Three key areas of the KfW’s financial partnership with Pakistan are good governance, climate and energy, and sustainable economic growth.
Through the KfW, the BMZ has contributed around 400 million euros to Khyber Pakhtunkhwa.
According to a news statement from the German embassy, stakeholders in the federal and provincial governments were consulted during the project’s creation.
