The European Investment Bank has announced its return to Pakistan after a decade, unveiling €160 million in financing for housing reconstruction and water projects.
Out of the total package, €100 million will be used to rebuild around 2.1 million homes in Sindh damaged by the 2022 floods, while €60 million will support water quality projects in Karachi.
The housing programme is part of one of the largest reconstruction efforts in the world, with total investment estimated at nearly $2 billion and expected to benefit about 40 percent of rural households in Sindh.
The initiative is being implemented with support from the Government of Sindh, the World Bank, the Asian Development Bank, and the Islamic Development Bank.
In Karachi, the funding will help build two water filtration plants in Gharo and Pipri, which are expected to supply around one billion litres of clean drinking water daily. The projects are designed to improve resilience against floods and heatwaves, with a focus on vulnerable communities and inclusive development.
The financing was announced during the EU Pakistan Business Forum and is backed by European Union guarantees under its Global Gateway initiative.
European Investment Bank is the European Union’s primary lending arm and one of the world’s largest multilateral financiers, with a strong focus on climate, infrastructure, and sustainable development projects.
The funding is part of the EU’s Global Gateway initiative, a €400 billion global investment plan aimed at boosting infrastructure, climate resilience, and economic development between 2021 and 2027.
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