PR No.302 Islamabad

German Ambassador Ina Lepel called on Finance Minister Senator Mohammad Ishaq Dar at the Ministry of Finance today.

The Ambassador briefed the Minister on the recently concluded bilateral negotiations and stated that the German side was fully satisfied with the outcome of the discussions. The Ambassdor also discussed details relating to Germany’s Euro 93.64 million financial and technical assistance pledged for Pakistan for 2015-16. She expressed her country’s continued support for Pakistan in its efforts for economic development.

The Minister on this occasion appreciated Germany’s active engagement in energy, governance, sustainable development and health sector in Pakistan.

They also discussed the latest development with regard to the creation of Pakistan Microfinance Investment Company. The Ambassador stated that KFW was working closely with the PPAF for finalizing the details of this new initiative. The Minister welcomed KFW’s interest and support for the new company.

Both sides also had exchange of views on the Pak-Germany Bilateral Agreement which was signed in 1972 and required to be updated it in line with the present day needs.

The Minister thanked Ambassador Lepel for her efforts to further augmenting Pak-Germany economic cooperation and assured her of full support in these efforts.