AGL 37.90 Increased By ▲ 0.33 (0.88%)
AIRLINK 131.12 Decreased By ▼ -1.38 (-1.04%)
BOP 5.59 Decreased By ▼ -0.05 (-0.89%)
CNERGY 3.80 Increased By ▲ 0.03 (0.8%)
DCL 8.67 Decreased By ▼ -0.20 (-2.25%)
DFML 40.70 Decreased By ▼ -0.30 (-0.73%)
DGKC 88.25 Decreased By ▼ -1.91 (-2.12%)
FCCL 35.20 Increased By ▲ 0.12 (0.34%)
FFBL 66.25 Decreased By ▼ -0.25 (-0.38%)
FFL 10.39 Increased By ▲ 0.24 (2.36%)
HUBC 109.02 Increased By ▲ 2.62 (2.46%)
HUMNL 14.24 Increased By ▲ 0.84 (6.27%)
KEL 4.86 No Change ▼ 0.00 (0%)
KOSM 6.98 Increased By ▲ 0.13 (1.9%)
MLCF 41.85 Increased By ▲ 0.05 (0.12%)
NBP 59.71 Increased By ▲ 1.13 (1.93%)
OGDC 183.01 Increased By ▲ 1.76 (0.97%)
PAEL 25.52 Decreased By ▼ -0.18 (-0.7%)
PIBTL 5.88 Increased By ▲ 0.05 (0.86%)
PPL 146.55 Decreased By ▼ -1.85 (-1.25%)
PRL 22.95 Decreased By ▼ -0.27 (-1.16%)
PTC 16.31 Increased By ▲ 1.07 (7.02%)
SEARL 68.18 Decreased By ▼ -0.61 (-0.89%)
TELE 7.22 Decreased By ▼ -0.02 (-0.28%)
TOMCL 35.70 Decreased By ▼ -0.30 (-0.83%)
TPLP 7.57 Increased By ▲ 0.17 (2.3%)
TREET 14.24 No Change ▼ 0.00 (0%)
TRG 50.95 Increased By ▲ 0.10 (0.2%)
UNITY 26.60 Increased By ▲ 0.20 (0.76%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,766 Decreased By -2 (-0.02%)
BR30 29,622 Increased By 222 (0.76%)
KSE100 91,974 Increased By 36.3 (0.04%)
KSE30 28,678 Decreased By -66 (-0.23%)

ISLAMABAD: The Federal Republic of Germany will provide Euro 20 million for the second phase of Billion Tree Afforestation Support Project (BTASP) to Pakistan.

In this regard, an agreement was signed after the approval of Federal Minister for Economic Affairs Ahad Cheema. Secretary Ministry of Economic Affairs Dr Kazim Niaz and Esther Gravenkotter, Director of the German Development Bank KfW signed this agreement on the behalf of the respective governments.

The project is an important part of the German-Pakistan Climate and Energy Initiative launched at COP26. The German government through the Pak-German Climate and Energy Partnership (PGCEP) is actively supporting Pakistan’s climate risk mitigation efforts. With the signing of this agreement, German Ministry of Economic Cooperation and Development (BMZ) funding through KfW for this programme has reached Euro 33.5 million.

2.12bn trees planted: Ministry directed to provide district-wide details

The first phase of BTASP (EUR 13.5 million) is already under implementation in partnership with the KP Climate Change, Forestry, Environment and Wildlife Department (CCFEWD).

The BTASP will support the protection and sustainable management of forests in KP. The project will focus on new plantation of 10,000 hectors provide capacity building of Forest Departments including developing a Management Information System.

The BTASP will also engage and mobilise communities as key stakeholders in the preservation of forests. The project will support nature-based livelihoods generation geared to alleviate poverty.

Moreover, it will promote women’s economic empowerment and participation in decision making processes. The KfW has an active portfolio supporting the Government of Pakistan with a focus on renewable energy.

Speaking on the occasion, Dr Niaz said that the project is expected to contribute significantly to Pakistan’s climate change mitigation efforts, biodiversity conservation, and sustainable development goals.

Copyright Business Recorder, 2024

Comments

200 characters