Germany pledges EUR 44m for Pakistan

16th November 2005, Comments 0 comments

Germany has pledged 44 million euros (51 million dollars) in fresh assistance to Pakistan to help in the post-quake reconstruction efforts in the devastated areas of Pakistan- administered Kashmir and its northern region, a senior German official said Wednesday.

16 November 2005

ISLAMABAD - Germany has pledged 44 million euros (51 million dollars) in fresh assistance to Pakistan to help in the post-quake reconstruction efforts in the devastated areas of Pakistan- administered Kashmir and its northern region, a senior German official said Wednesday.

Dr. Rainer Goerdeler, Director General of the Ministry for Cooperation and International Development (BMZ), told reporters in Islamabad that the new pledges included 34 million euros in investment financing and the remainder in technical assistance.

"Our technical assistance for know-how transfer and capacity building is completely grant funded and for the investment financing, we will try hard to convert loan financing into grant financing, too, given the social and poverty orientation," he said.

Germany has already provided 26 million euros of assistance both in cash and assistance for immediate relief and rescue efforts, besides another 20 million euros in private donations.

The 7.6 magnitude quake on October 8 killed an estimated 86,000 people, wounded nearly 100,000 and left some four million homeless.

DPA

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