Travel
World Bank to lend Pakistan $20bn over 10 years: sources
字号+ Author:Smart News Source:US 2025-01-13 08:13:17 I want to comment(0)
ISLAMABAD: The World Bank is likely to approve $20 billion for Pakistan over a 10-year period for improving the country’s key sectors, sources told on Saturday. Sources within the Ministry of Economic Affairs have said that the loan will be part of the World Bank's support under the Country Partnership Framework 2025-35, which focuses on sustainable economic development. The loan is expected to be approved by the WB's Board of Directors on January 14. Once approved, Martin Raiser, the lender's Vice President, is expected to visit Islamabad to discuss the loan programme and its implementation. The agreement is part of the WB's broader initiative to assist Pakistan in addressing critical challenges, including health, education, and climate change. This loan programme has been designed to ensure long-term stability, with specific goals set for the next 10 years with a focus on improving sectors that have been largely neglected in recent years. According to sources, the loan will be safeguarded from political changes, allowing the projects to proceed without disruption. In addition to the $20 billion, two subsidiary entities of the World Bank will assist Pakistan in securing another $20 billion in private loans. This would bring the total financial package to $40 billion, which will be allocated towards infrastructure development, climate resilience projects, and improving social services. Meanwhile, the government, in its bid to achieve an economic revival, has the launched National Economic Transformation Plan which, aims to achieve ambitious economic targets, including doubling GDP growth and halving poverty over a five-year period. It envisages attracting $29 billion anticipated investment under the supervision of the Special Investment Facilitation Council (SIFC) including $10 billion from the UAE, $5 billion from Saudi Arabia, $2 billion from Qatar, $2 billion from Azerbaijan, and $10 billion from Kuwait. Meanwhile, the gross domestic product (GDP) target has been set at 6% of the GDP till the Fiscal Year 2028-29 whereas the per capita income in dollar term is projected to go up to $2,405 from $1,680.
1.This site adheres to industry standards, and any reposted articles will clearly indicate the author and source;
Related Articles
-
A crisis of economics
2025-01-13 07:30
-
Gaza civil defence says 20 killed in Israeli air strikes
2025-01-13 07:14
-
Shangla buildings discharging waste into rivers to face action
2025-01-13 05:34
-
NON-FICTION: TRAPPED IN A VICIOUS CYCLE
2025-01-13 05:26
User Reviews
Recommended Reads
Hot Information
- Biden pledges record $4bn to World Bank fund for poorest countries
- Toxic smog surges past 50 times WHO limit in New Delhi
- Ben & Jerry’s says parent Unilever silenced it over Gaza stance: report
- Leaders urge climate action at COP29
- Fog-induced accidents claim two lives in Kasur
- CDWP clears seven projects worth Rs560bn
- Israel carries out at least 27 air attacks on civilian, religious sites in Lebanon: report
- 11 killed in Israeli strikes across Lebanon
- Hasina’s allies face ‘massacre’ charges in court
Abont US
Follow our WhatasApp account to stay updated with the latest exciting content