The World Bank is set to bolster Pakistan’s economic development through a funding initiative, providing an $8.7 billion loan over the next five years.
Pakistan benefits from 58 ongoing projects under World Bank financing, with a total allocation of $14.8 billion. Out of this, $6.16 billion has already been disbursed. The forthcoming funds will prioritize completing these initiatives, including substantial additional allocations for key infrastructure and development projects.
Among these, the Dasu Hydropower Project will receive an extra $1 billion for various phases, underscoring the World Bank’s commitment to enhancing Pakistan’s power generation capacity. Furthermore, the Economic Affairs Division outlined major allocations such as $700 million for the Dasu Transmission Line Project and $584.84 million for the first stage of the Dasu Hydropower Project.
Additional funding includes $500 million each for the Sindh Flood Emergency Rehabilitation Project and housing projects in Sindh, along with $400 million to support expenditures and development in Khyber Pakhtunkhwa (KP). The World Bank will also contribute $460 million towards the Khyber Pass Economic Corridor project and $450 million for KP hydro and renewable energy projects.
Education and healthcare also receive substantial backing, with $400 million dedicated to higher education development and $258 million earmarked for the National Health Support Project Phase One. Rural development is not overlooked, with $300 million set for rural access projects in KP and $440 million for water supply projects in rural Punjab.
This extensive financial support from the World Bank is poised to significantly advance Pakistan’s infrastructure, healthcare, education, and rural development, driving national growth and stability.
