Friday, April 19, 2024

World Bank to consider Pakistan’s application for $800m budget support loans next week

According to the sources, -World Bank is set out to take into account accepting two budget support loans of $800 million for Pakistan over the next week.

An official of the Ministry of Economic Affairs said that the Executive board of the world bank will pick up Pakistan’s application for two budgetary help loans totaling $800 million during the upcoming week.

According to the information provided by the Ministry of Economic Affairs, Pakistan had received a loan worth $1.224 billion from the World Bank during the months of July- May of the current financial year. The government had expected to receive $2.257 billion from the World Bank in the whole outgoing fiscal year.

 Earlier, in the past week, the Ministry of Economic Affairs, Govt of Pakistan, and the World Bank has signed the funding deal for the “Punjab Rural Sustainable Water Supply & Sanitation Project” in Islamabad that cost US$442.4 million.

This project is intended to provide fair and environmentally sustainable access to safe drinking water; enhance hygiene and lessen the child’s impeding in Punjab.

Mr. Omar Ayub Khan, Minister for Economic Affairs has expressed appreciation for the World Bank’s efforts made by emphasizing that this is the signature project which signifies the dream of the Prime Minister Imran Khan to subsidize human capital and to enhance living level of the people.

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