Monday, June 17, 2024, 1:13 AM
**First fuel trucks enter war-torn Gaza: Rafah crossing official **Six trucks with fuel to power generators at two hospitals crossed from Egypt **Hezbollah war with Israel would be 'mistake of its life': Netanyahu **We will strike it with a force it cannot even imagine: Netanyahu **Force ‘not way’ to resolve Israeli-Palestinian conflict : China **Iran journalists who covered Amini death get jail sentences **Elaheh Mohammadi, Niloufar Hamedi were both found guilty of collaboration with US **Elaheh and Niloufar were arrested after reporting on the death last year of Mahsa Amini
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
0 comment

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.


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

You may also like

In a recent breakthrough, researchers have found that the updated COVID-19 vaccine has demonstrated an impressive 95% efficacy rate against the emerging Delta variant, which has been causing widespread concern globally.


Latest Articles

© 2023 News World Media. All Rights Reserved.