Pakistan and Italy on Monday signed a concessional loan agreement worth approximately Rs6.3 billion to support a project aimed at strengthening agricultural skills development and vocational education in the country. The agreement was signed by Economic Affairs Secretary Muhammad Humair Karim and Ambassador of Italy Marilina Armellin in the presence of senior officials from the Italian Agency for Development Cooperation, the Ministry of National Food Security and Research and provincial departments for the Professional Capacity Building and Extension in Agriculture project under Pakistan's Technical and Vocational Education and Training (TVET) National Reform Programme.
Project Objectives and Scope
The concessional loan, amounting to Rs6.3 billion, is designated for the Professional Capacity Building and Extension in Agriculture project. This initiative aims to enhance the skills of agricultural professionals and extension workers, thereby improving productivity and sustainability in Pakistan's agriculture sector. The project is part of the broader TVET National Reform Programme, which seeks to modernize vocational training across the country.
Signatories and Stakeholders
Economic Affairs Secretary Muhammad Humair Karim and Italian Ambassador Marilina Armellin formalized the agreement in Islamabad. The signing ceremony was attended by senior officials from the Italian Agency for Development Cooperation, the Ministry of National Food Security and Research, and provincial departments. Their presence underscored the collaborative effort between Pakistan and Italy to boost agricultural capacity.
Impact on Agriculture and Economy
According to officials, the project is expected to train thousands of farmers and extension workers, equipping them with modern techniques in crop management, water conservation, and sustainable farming. This will contribute to food security and economic growth in rural areas. The loan is concessional, meaning it carries favorable terms such as low interest rates and extended repayment periods, easing the financial burden on Pakistan.
