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The World Bank has approved a $300 million concessional loan under the International Development Association (IDA) to support Punjab’s fight against air pollution. However the loan will fund the Punjab Clean Air Program (PCAP), a project aimed at improving air quality and reducing smog across the province. A Step Towards Cleaner Air The Punjab government …
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The World Bank has approved a $102 million loan for Pakistan’s Resilient and Accessible Microfinance (RAM) Project, aiming to improve access to microcredit and strengthen the country’s microfinance sector. This initiative will benefit nearly 1.9 million people, particularly low-income families struggling with financial challenges and climate-related shocks. Support for Vulnerable Communities The RAM Project will …
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Pakistan and the World Bank (WB) reaffirmed their commitment to advancing the country’s economic reform agenda, aiming for sustainable growth and development. The focus remains on fiscal stability, revenue generation, and investment-friendly policies under the 10-year Country Partnership Framework (CPF), which includes a $20 billion funding programme. Key Focus Areas of the Meeting Finance Minister …
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The government plans to privatise up to 50 state-owned enterprises (SOEs) over the next three to four years. Minister for Economic Affairs Ahad Cheema shared this update during a meeting with a World Bank delegation on Monday. Cheema met with Executive Directors (EDs) and Alternate Executive Directors (AEDs) from the World Bank Group (WBG). The …
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Prime Minister Shehbaz Sharif welcomed a $40 billion investment from the World Bank, highlighting its potential to drive Pakistan’s development. The investment will support various sectors and open new economic opportunities, the PM said in a statement released Monday. World Bank’s Country Partnership Framework The World Bank’s investment falls under its 10-year Country Partnership Framework …
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A high-level delegation of nine Executive Directors (EDs) from the World Bank Group (WBG) has arrived in Pakistan after nearly 20 years. The delegation will discuss Pakistan’s economic development plans, investment opportunities, and strategies for implementing the recently approved $40 billion Country Partnership Framework (CPF) for the next decade. Meetings with Top Government Officials The …
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The World Bank has committed $20 billion to Pakistan under a 10-year Country Partnership Framework (CPF). The decision was approved with 19 out of 24 directors voting in favor. This significant financial support aims to address key developmental challenges in Pakistan and boost the country’s economic stability. Approximately three-quarters of the $20 billion will be …
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Karachi: Committed to the aim to expand its portfolio of clean energy, KE has allied with Sindh Energy Department (SED) and the World Bank to develop a solar park with an aggregate capacity of 350 MW under the ambit of the ‘Sindh Solar Energy Project’ (SSEP). The objective of SSEP is to increase solar power …
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ISLAMABAD: Pakistan has received another loan from the world bank on Friday loan of worth $1.3 billion including $600 million for budget support. This borrowing will prove to be beneficial to revive the financial state of the country. The amount includes a $200 million loan to combat locust attacks, a scheme that has been met …
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Karachi: The US dollar depreciated against the rupee in both the foreign exchange markets on Friday. As a result, the dollar lost another 20 paise to close at Rs 160.30 in the open currency market. In the interbank market, the dollar fell further by 18 paise to close at Rs 160.10. Read, Gold prices rose in …
Karachi: The Economic Affairs Minister Makhdoom Khusro Bhakhtiar stated that the government of Pakistan is ready to make efforts in improving fiscal management. This will be done by increasing domestic revenues and investing in development initiatives. The Minister was speaking at the event where a $304 m loan has been lent from the World Bank, …
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