EU has earmarked an initial grant of €265 million for the period from 2021 to 2024, which also paves the way for its future allocations. In this regard, Pakistan and European Union have jointly launched the Multi-Annual Indicative Program (MIP) to support Pakistan’s Vision 2025.
The Program was launched by the Ambassador of the European Union (EU) to Pakistan, Dr. Riina Kionka, and Secretary of the Economic Affairs Division, Mian Asad Hayaud Din. MIP covers the period from 2021 to 2027.
Under MIP, the EU has earmarked an initial grant of €265 million for the period from 2021 to 2024, while the indicative allocations from 2025 to 2027 will be carried out through an inclusive mid-term review of its implementation.
MIP will support Pakistan’s Vision 2025 through a Team Europe approach together with the EU Member States. Team Europe approach will support a green economic recovery by collectively investing in and transforming the sectors that generate green jobs in Pakistan.
Before the launching ceremony, EU Ambassador held a meeting with Minister for Economic Affairs, Ayaz Sadiq. The minister informed her about the current flood situation in the country. He also apprised the ambassador that the development cooperation between Pakistan and the EU goes back to 1976 and Pakistan is looking forward to further enhancement of relations.
Dr. Riina assured the minister of coordination between both parties on achieving Sustainable Development Goals.