Islamabad, Pakistan – Web Desk: The European Investment Bank (EIB) has announced €160 million in financing for development projects in Pakistan, focusing on flood-affected housing reconstruction and clean water supply initiatives.
According to an official statement, €100 million has been allocated for rebuilding homes in Sindh province following devastating floods. The initiative aims to reconstruct approximately 2.1 million houses damaged by flooding, providing safer housing for vulnerable communities.
An additional €60 million has been earmarked for water supply projects in Karachi. The funding will support the construction of two water filtration plants, expected to benefit around 2.2 million residents. The projects are designed to supply up to 300 million liters of clean drinking water daily.
The statement added that these initiatives form part of the Global Gateway Strategy, the European Union’s framework aimed at boosting sustainable infrastructure investment worldwide.
The agreements were announced during the European Union-Pakistan Business Forum held in Islamabad. EIB officials noted that development investment in Pakistan has increased under the Global Gateway framework.
They also reaffirmed their commitment to supporting climate resilience and sustainable development in Pakistan, with a focus on providing safe housing and clean water to underserved populations.
According to EIB representatives, the projects will ensure public participation in housing reconstruction while adhering to environmental standards. The bank added that renewed investment in Pakistan would further strengthen long-term development partnerships.
