Pakistan, EU sign €20 Million agreement to boost private sector competitiveness

Celina Ali

Islamabad: Pakistan and the European Union Thursday signed a €20 million grant agreement aimed at strengthening Pakistan’s private sector, with a special focus on enhancing the competitiveness of small and medium-sized enterprises (SMEs). The initiative is part of broader efforts to improve governance and foster a more business-friendly environment in the country.

The agreement was signed in Islamabad by Dr. Kazim Niaz, Secretary of Economic Affairs, and the EU Ambassador to Pakistan, Riina Kionka. According to the Economic Affairs Division, the funding will support institutional reforms and private sector development under the “Uraan Pakistan” program, which aligns with national objectives for economic growth and resilience.

Dr. Niaz expressed gratitude for the EU’s continued partnership, highlighting that the support aligns closely with Pakistan’s goals for private sector advancement and governance enhancement.

EU Ambassador Riina Kionka stated that the agreement reflects the EU’s strong commitment to helping Pakistan build a resilient, inclusive, and competitive economy. She emphasized the EU’s focus on supporting women-led businesses and promoting public-private partnerships to foster sustainable economic development.