Islamabad:Germany has announced economic assistance worth 163 million euros for Pakistan.

The announcement was made by German Parliamentary Minister for Economic Affairs Niels Annen during his meeting with Minister for Economic Affairs Sardar Ayaz Sadiq in Germany on Tuesday.

The assistance will be given in lieu of development projects of three to five years. Germany will also provide an additional and immediate aid of 27 million euros to overcome food shortages in the flood-affected areas of Pakistan and will be distributed through Benazir Income Support Program.

On the occasion, the two sides agreed to further enhance their bilateral relations and increase cooperation in energy, investment, environment and technical training. Sardar Ayaz Sadiq said Pakistan attaches great value to its long standing and historic ties with Germany.