EU, Pakistan sign Rs.6.326 bln agreements.

ISLAMABAD, August 28, 2009 (Balochistan Times): Pakistan and European Commission here on Friday signed four financing agreements worth Rs.6.326 billion (Euro 55.8 million) in sectors of education and human resource development, rural development and trade-related assistance. The agreements were signed by Secretary Economic Affairs Division, Farrakh Qayyum and Charg dAffairs ad Interim of the EC to Pakistan, Tomas Niklasson. The first project, Rural Development and Natural Resources Management in NWFP and Balochistan, through capacity building and promoting of sector wide approaches, will assess the dynamics of the rural development sector and the feasibility of sector-wide approaches in the region. The second project Improving Livelihood through Application of Renewable Energy will enhance income generating opportunities in NWFP and Balochistan. The third project, Trade Related Technical Assistance is aiming at encouraging employment opportunities by increasing Pakistans export capacity. While the last and fourth project of Technical and Vocational Education and Training will improve the socio-economic development of Pakistan through investment in human capital. Speaking on the occasion, Farrakh Qayyum said that the government of Pakistan appreciated the support of the EU and expressed the hope that these agreements would mark a new beginning towards strengthening ties between two sides. The UE demonstrates commitment to its growing ties with Pakistan by signing the financing agreements, said Niklasson adding that the projects would support economic activities to enhance vocational skills of the people in the most deprived areas of the country.

(THROUGH ASIA PULSE)