Germany and Pakistan sign the Regional Infrastructure Fund (phase-II) financing agreement worth 17.5 million Euro
Islamabad:(Rana Tariq) – KfW and Pakistan signed the Financing Agreement for the second phase of the Regional Infrastructure Fund (RIF-II) at Pakistan’s Federal Ministry for Economic Affairs (MEA) in Islamabad on 1 August 2022.
KfW Development Bank (KfW) Country Director Mr. Sebastian Jacobi and MEA Secretary Mr. Haya Uddin signed the RIF-II grant agreement.
The German Federal Ministry for Economic Cooperation and Development (BMZ) is financing the project through KfW. The total funding (grant) for the project is EUR 17.5 million over a period of six years.
The project will scale up resilient resource management in cities (RRMiC) in Khyber Pakhtunkhwa (KP), which KfW has already successfully piloted in Mansehra. RIF-II will finance drinking water supply measures and develop water / solid waste management infrastructure in Dera Ismail Khan and Bannu districts.
The project will also support institutional development, capacity building and community mobilization towards sustainable RRMiC in KP.
The project was designed in consultation with stakeholders in the national and provincial governments, including the KP Planning & Development Department, Public Health Engineering Department, Local Government & Rural Development Department, and district/tehsil administrations.
KfW is one of the leading promotional banks worldwide, which has contributed significant resources to Pakistan’s development.
KfW’s financial cooperation with Pakistan comprises three focal areas: Good Governance; Climate and Energy; and sustainable economic development. BMZ has invested approximately EUR 400 million only in Khyber Pakhtunkhwa through KfW.