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Home Business World Bank urges Pakistan for joint efforts to unlock $2bn funds

World Bank urges Pakistan for joint efforts to unlock $2bn funds

Disbursement of $2 billion possible after completion of deliverables.

by NWMNewsDesk
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The World Bank has stressed the need for collaborative efforts to ensure the disbursement of $2 billion in program and project loans to Pakistan during the current fiscal year, The News reported on Sunday.

The key condition to unlock the funds by the international financial institution is the successful realisation of deliverables by federal and provincial governments, as outlined in its agreed-upon indicators. Therefore, a failure to meet these prerequisites will obstruct the $2 billion disbursement.

The Economic Affairs Division (EAD) made an official announcement in this regard stating that the World Bank Country Director Najy Benhassine held a meeting with the interim Finance Minister Dr Shamshad Akhtar.

During their meeting, the two assessed the overall performance of the World Bank’s ongoing portfolio in Pakistan. Various other options were explored to expand collaboration in priority areas, with the aim to stimulate economic growth within the country.

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Dr Akhtar, while welcoming the World Bank team, reiterated that Pakistan values its development partnership with the bank. She appreciated the efforts of World Bank management, especially the country team in Islamabad, in the economic development of Pakista

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