Tuesday, 02 January 2024 12:17 GMT

World Bank Approves Millions in Support of Pakistan’s Economy


(MENAFN) The World Bank announced on Friday that it has approved $700 million in financing to bolster Pakistan’s macroeconomic stability and improve service delivery.

The funding is part of the Public Resources for Inclusive Development—Multiphase Programmatic Approach (PRID-MPA), a nationwide initiative designed to strengthen both federal and provincial reforms aimed at mobilizing domestic revenue. The program envisions total financing of up to $1.35 billion.

Of the approved amount, $600 million will be allocated to federal-level programs, while $100 million is earmarked specifically for Sindh province.

Bolormaa Amgaabazar, the World Bank’s country director for Pakistan, emphasized: “Pakistan’s path to inclusive, sustainable growth requires mobilizing more domestic resources and ensuring they are used efficiently and transparently to deliver results for people.”

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