Brussels/Lahore (Unib Rashid) – European Union Ambassador Raimundas Karoblis has presented awards to the first nine recipients of the Team Europe Challenge Fund in Lahore, marking a significant step towards promoting innovation, sustainability and environmental responsibility in Pakistan’s textile sector.

The initiative is being implemented through the EU-funded Better Governance and Business Environment Initiative, with support from GIZ Pakistan. It aims to help export-oriented small and medium-sized enterprises (SMEs) transform innovative ideas into practical solutions that contribute to a greener and more sustainable textile industry.

Under the programme, the nine selected companies will receive EU co-financing of up to €100,000 to implement their proposed projects and accelerate the adoption of sustainable practices across the textile value chain.

The financial and technical support is designed to strengthen the capacity of Pakistani businesses to develop innovative solutions, improve environmental performance and enhance the competitiveness of the country’s export-oriented textile sector.

The Team Europe Challenge Fund reflects the European Union’s continued commitment to supporting sustainable economic development, strengthening the private sector and promoting environmentally responsible industrial practices in Pakistan.

Through this initiative, participating companies will have an opportunity to turn innovative concepts into practical business solutions, contributing to the long-term transformation of Pakistan’s textile industry.