Incumbent gov’t, World Bank sign $1.3b agreement

According to an agreement signed between mutual parties, the World Bank will provide a sum of $1.3 billion in order to elevate various sectors of the economy of the incumbent government.

As per the shared details issued by the Press Information department, the seven sectors, including social protection, disaster and climate risk management, and human capital development will be improvised.

The agreements were signed by Ministry of Economic Affairs Secretary Noor Ahmed and World Bank Country Director Najy Benhassine. Representatives of the Sindh, Khyber Pakhtunkhwa and Balochistan governments witnessed the agreement signing for provincial projects online.

According to the Federal government, $600 million will be used to support initiatives under the Ehsaas programme. The Locust Emergency and Food Security project will receive $200 million.

Moreover, two hundred million dollars will be spent to improve the quality of primary healthcare services and elementary education in four districts of Khyber Pakhtunkhwa. Another $200 million will be used to strengthen Sindh’s capacity to manage natural disasters and public health emergencies.

A total amount of $86 million will be utilized to create employment opportunities for the welfare of communities of Balochistan. An amount of $50 million has been allocated to ensure organizational and institutional facilitation to refugees and hosts of the regions. 

Article source: https://nation.com.pk/26-Mar-2021/incumbent-gov-t-world-bank-sign-dollar-1-3b-agreement-to-elevate-economy