ISLAMABAD: A delegation from the European Investment Bank (EIB), led by Edvardas Bumsteinas, Head of Division for Asia & Pacific, has expressed interest in supporting water filtration and industrial water recycling projects in Karachi. These projects are crucial for addressing the city’s urban water supply challenges.
The EIB is also interested in renewable energy and hydropower initiatives in Pakistan. This interest highlights the EIB’s commitment to backing critical infrastructure and development efforts essential for Pakistan’s economic growth and sustainable development.
The Federal Minister for Economic Affairs welcomed the EIB delegation and key representatives from the EU Delegation in Pakistan. He emphasized the strategic importance of the visit and expressed optimism that it would open avenues for closer collaboration between the EIB and Pakistan.
The Minister noted that the EIB’s priority areas—such as climate action and high-impact global investments in water, energy, and transport sectors—align with Pakistan’s development needs, according to Mettis Global.
He expressed appreciation for the EIB’s €50 million loan for the rehabilitation of the Warsak Hydropower Project, highlighting its vital role in restoring the plant’s capacity.
The EIB delegation showed interest in several key projects, including those financed by other international financial institutions like the World Bank (WB), the Asian Development Bank (ADB), and the Asian Infrastructure Investment Bank (AIIB). They are particularly keen on exploring opportunities to provide loans for significant initiatives in Pakistan.
Among these is the N-5 road widening project, which aims to improve road connectivity and transportation efficiency, especially in areas affected by flooding.
The Minister urged the delegation to consider extending technical and financial assistance to the National Transmission and Dispatch Company (NTDC) and Pakistan Railways. He expressed hope that the EIB would fund some of these key projects to support Pakistan’s development agenda.
Edvardas Bumsteinas responded positively, indicating that he would discuss these projects with senior officials at EIB headquarters to explore potential funding opportunities.
The Minister thanked the EU Ambassador and Head of Cooperation for their continuous support and assured the EIB and EU Delegation of the Ministry’s full cooperation in ensuring the efficient utilization of their assistance in Pakistan.
I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.
