On July 10, a momentous agreement was signed between the Government of Pakistan and the European Union (EU) for a €20 million grant to kick off the “Better Governance and Business Environment” initiative! This collaboration highlights the unwavering commitment of the two parties to fostering sustainable and inclusive economic development. The agreement was signed by Dr. Riina Kionka, the EU Ambassador to Pakistan, and Dr. Kazim Niaz, Secretary of the Economic Affairs Division.
This initiative, funded under the EU’s Multiannual Indicative Programme 2021-2027, aims to boost the competitiveness of Pakistan’s private sector, with a special focus on empowering small and medium-sized enterprises (SMEs), particularly those led by or benefiting women. The programme will not only strengthen SME-related legislation but also support green transitions for export-oriented firms, encourage targeted green investments, and promote engaging public-private dialogue.
Aligning perfectly with the EU’s Global Gateway strategy, GSP+ commitments, and the EU Green Deal, this initiative promotes smart, sustainable investment and resilient value chains.
During the signing ceremony, Dr. Niaz expressed heartfelt appreciation for the EU’s ongoing support and partnership, emphasising the initiative’s timely relevance to Uraan Pakistan’s objectives for private sector growth and institutional reform aimed at attracting responsible investments.
The EU continues to champion climate resilience, governance, human rights, and sustainable economic progress in Pakistan. This new initiative is another inspiring step forward in achieving these shared goals!
“This agreement underscores the EU’s commitment to supporting Pakistan in building a resilient, inclusive, and competitive economy. We are investing in green innovation, women-led businesses, and public-private partnerships to ensure a more sustainable future for all Pakistanis,” stated Ambassador Dr. Kionka.
