The United States Agency for International Development (USAID) on Wednesday announced $445.6 million in grant to support socio-economic development in Pakistan.

Economic Affairs Division Secretary Dr Kazim Niaz and USAID Mission Director to Pakistan Reed Aeschliman signed a new five-year bilateral Development Objectives Assistance Agreement in this regard at the Ministry of Economic Affairs in Islamabad earlier today.

The signing ceremony was witnessed by Federal Minister of Economic Affairs Sardar Ayaz Sadiq and the visiting USAID Deputy Administrator Isobel Coleman.

This agreement was signed after a lag of 13 years as the last development partnership agreement “Pakistan Enhanced Partnership Agreement (PEPA)” was signed between the two countries in 2010. Under this agreement, USAID will provide a grant of $445.6 over a period of five years.

This agreement will be instrumental for the socio-economic uplift of Pakistan as it supports major areas like climate-resilient economic growth, inclusive and accountable democratic governance and a healthier and more educated population, according to a statement issued by the ministry.

The development objectives of DOAG are in line with our national developmental vision and activities funded under this would be implemented in coordination with the government of Pakistan, thereby continuing a close bilateral relationship, fostering effective coordination and the government’s visibility.

This agreement has been signed between the government and USAID after an extensive consultative process with the federal and provincial departments. It launches a renewed effort for transparency and accountability as well as for increasing the involvement of Pakistani organisations in its implementation.

“The United States remains one of the largest providers of development assistance to Pakistan, partnering with the Government of Pakistan, civil society, and international organizations on numerous programs aligned with Pakistan’s priorities. We look forward to continuing to advance this partnership in part through the US-Pakistan ‘Green Alliance’, a framework focused on agriculture, water management, and clean energy,” said the minister for economic affairs.

Speaking on the occasion, the economic affairs division secretary thanked the US government and USAID for its continuous support to Pakistan for the socio-economic uplift of Pakistan.