Brussels, (Unib Rashid) — Pakistan and the European Investment Bank (EIB) have signed a preliminary agreement for the provision of €60 million in financing to support sewerage and wastewater treatment projects in Karachi.

The signing ceremony took place on the sidelines of the 15th Pakistan–EU Joint Commission meeting held in Brussels. The agreement was signed on behalf of Pakistan by Secretary of the Ministry of Economic Affairs, Muhammad Hameer Karim, and on behalf of the EIB by Edwardas Bumšteinas, Head of the Asia-Pacific Division.

Senior officials present at the ceremony included Mariam Ferran, Deputy Director General of the European Commission’s DG INTPA; Rahim Hayat Qureshi, Pakistan’s Ambassador to the European Union; Raimundas Karoblis, the European Union’s Ambassador to Pakistan; and Paola Pampaloni, Acting Managing Director of the European External Action Service.

According to sources, the agreement marks the formal launch of €60 million in EIB financing aimed at rehabilitating, upgrading, and constructing key wastewater and sewerage infrastructure in Karachi. The project is expected to improve sanitation services, public health, and water security for the city’s rapidly growing population.

The signing reflects the strong partnership between Pakistan and the European Union and their shared commitment to promoting sustainable and climate-resilient urban infrastructure.

Meanwhile, the European Union’s Investment Bank signed its first loan agreement with Pakistan in a decade, approving a €60 million loan to provide clean drinking water for Karachi, according to the European Union’s Pakistan office.
According to the same office,The European Union’s Global Gateway is in action.