World Bank signed 7 project agreements worth 1.336 billion
- Pakistan and the World Bank have signed seven project agreements worth 1.336 billion, including a 128 million grant from the World Bank.
- World Bank’s assistance will be used by the government in Pakistan for initiatives in the areas of social security, natural disaster and environmental hazard management.
- According to the Federal Minister, the World Bank will provide 200 million for the Sindh Resilience Project.
Agreement of 7 projects by world bank
Pakistan and the World Bank have signed seven project agreements worth 1.336 billion, including a 128 million grant from the World Bank.
According to details, the signing ceremony was held at the Ministry of Economic Affairs. Federal Minister for Economic Affairs Makhdoom Khusro Bakhtiar and Country Director of the World Bank in Pakistan Naji bin Hussain were also present on the occasion.
The World Bank’s assistance will be used by the government in Pakistan for initiatives in the areas of social security, natural disaster and environmental hazard management, infrastructure improvement, agriculture and food security, human capital development and governance.
Speaking on the occasion, Federal Minister Makhdoom Khusro Bakhtiar thanked the World Bank Country Management in Pakistan for its continuous cooperation with the Government of Pakistan in achieving the Sustainable Development Goals. The financial programs and initiatives initiated by the Government of Pakistan with the support of the World Bank are a testament to the confidence of international financial institutions and development partners.
He said that the government of Pakistan is committed to provide financial assistance for the development needs of the provinces and the projects agreed upon include the Crisis Resilient Social Protection Program (CRISP). Under the agreement, 600 million will be provided for this program.
Under the program, the scope of Ehsas program will be expanded. Under the program, unparalleled support program, Ehsas conditional cash transfer, sponsorship, resource education and development program will be focused.
He said that 200 million would be provided under locust heart and food security program, World Bank would provide 200 million to Pakistan under Khyber Pakhtunkhwa Human Capital Investment Project, under which four districts of Khyber Pakhtunkhwa, Peshawar, Haripur and Nowshera would be provided. And basic public health services and elementary education will be promoted in Swabi.
According to the Federal Minister, the World Bank will provide 200 million for the Sindh Resilience Project. The project also includes the construction of 35 small rainfed dams in the province. The World Bank will provide 86 million to Pakistan under the Balochistan Livelihood and Entrepreneurship and Balochistan Human Capital Investment Project.
Under the program, employment opportunities will be promoted in rural areas of Balochistan while health and education services will also be improved. Under the Refugees Project, the World Bank will provide 50 million assistance to Pakistan.
Secretary to the Ministry of Economic Affairs Noor Ahmad signed the agreements on behalf of the Government of Pakistan while representatives from Sindh, Khyber Pakhtunkhwa and Balochistan signed the agreements on behalf of their respective governments.
The World Bank Country Director for Pakistan, Naji bin Hussain, signed the agreements on behalf of the World Bank. Naji bin Hussain reiterated the World Bank’s commitment to continue cooperating with the Government of Pakistan in the process of sustainable and comprehensive economic growth.