ISLAMABAD: The World Bank will provide $433 million to Pakistan under three separate heads to support the financial sector, social protection and community development.
The agreements were formally signed on Thursday. Secretary Economic Affairs Division Tariq Mahmood Pasha signed the Loans and Grants Agreements on behalf of government. Project agreements were signed by the representatives of Khyber Pakhtunkhwa government and Fata Secretariat. Acting Country Director Anthony Cholst signed the agreements on behalf of the World Bank.
Mr Cholst said the agreements would strengthen the financial sector, bring about improvements in the income support programme and contribute to economic development in KP and Fata.
Under the agreements, $301.6m is earmarked for meeting objectives of ‘Growth Development Policy Financing’. Likewise, the Benazir Income Support Programme has been provided $100m to strengthen the social safety net systems for the poor.
Similarly, under the medium-term grant assistance agreements worth $31.1m for KP, Fata and Balochistan will be delivered through three projects.
Courtesy by: https://dawn.com/