Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Blindfolded Chessboard Record
    OffbeatVideos

    10-Year-Old Sets Blindfolded Chessboard Record in Malaysia

    September 27, 2023 2 Min Read
    Alligator Birthday Heist
    OffbeatVideos

    Alligator in a Bathtub: Florida Woman’s Bold Move for a Birthday Photo at Hotel

    September 27, 2023 1 Min Read
    Richard Jefferson, NBA Retirement
    SportsVideos

    LeBron’s Ex. Teammate Richard Jefferson Finds Joy in Chores

    September 24, 2023 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: World Bank Sets Conditional $2 Billion Disbursement for Pakistan
PhotoNews PakistanPhotoNews Pakistan
Aa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
World Bank
PhotoNews Pakistan > Business > World Bank Sets Conditional $2 Billion Disbursement for Pakistan
BusinessPakistan

World Bank Sets Conditional $2 Billion Disbursement for Pakistan

Last updated: 2023/09/10 at 1:23 PM
3 Min Read
Share
SHARE

The World Bank emphasized the necessity of a joint approach to facilitate the allocation of a substantial $2 billion in project and program loans to Pakistan within the current fiscal year.

Contents
Stepping up CollaborationCharting a Progressive Pathway

The World Bank’s financial initiative is tied to specific requirements, with the primary clause being the achievement of specific deliverables by Pakistan’s federal and provincial governments, as stipulated in the mutually agreed indicators. Consequently, failing to fulfil these agreed-upon conditions will halt the planned disbursement of the $2 billion fund.

Stepping up Collaboration

The Economic Affairs Division (EAD) divulged details of a pivotal meeting between World Bank Country Director Najy Benhassine and interim Finance Minister Dr. Shamshad Akhtar to reinforce and expand the collaborative efforts to stimulate economic growth within Pakistan. The meeting served as a platform for assessing the effectiveness of the World Bank’s existing portfolio in Pakistan and to ponder various avenues to amplify collaboration in priority sectors.

During the gathering, Dr. Akhtar extended a warm welcome to the World Bank delegation, reinforcing that Pakistan holds the collaboration with the bank in high regard. She expressed her appreciation for the dedicated endeavours of the World Bank management, particularly the country team based in Islamabad, in contributing to Pakistan’s economic development.

Charting a Progressive Pathway

Benhassine, in his conversation with the finance minister, shed light on the concerted efforts being put forth by the World Bank Management in synergy with Pakistan’s Ministry of Finance, Revenue, Economic Affairs, and Privatisation. Their collective mission revolves around enhancing the effectiveness of the current portfolio’s implementation and amplifying the quantum of foreign resource disbursements. He highlighted an ambitious target of facilitating disbursements nearing $2 billion in the ongoing financial year 2023-24.

Dr Akhtar elucidated the government’s reform agenda and the active strides to stabilize the national economy. She underscored that the Pakistani government acknowledges the pivotal role of reform implementation in priority sectors, specifically focusing on the energy sector, to unlock the nation’s growth trajectory. Thus, initiating policy reforms in this segment is the government’s top priority.

Moreover, the discussion also touched upon the advancements within the RISE-II Development Policy Financing Programme, a project that the World Bank recently negotiated in conjunction with EAD. Dr. Akhtar lauded the World Bank’s swift assistance during the devastating floods in 2022. However, acknowledging the immense rehabilitation and reconstruction needs that have arisen post-floods, she urged Benhassine to augment the World Bank’s support to address the urgent necessities of the nation better.

TAGGED: Featured
Jaffar Khan September 10, 2023
Share this Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

Google 25th Anniversary

Google’s Silver Jubilee: 25 Years of Digital Innovation

Unified GCC Visa System

Unified GCC Visa System – Effortless Travel Across Gulf Countries

ECP General Elections Preparations

ECP Outlines Detailed Plan for Upcoming General Elections

Avastin Injection Scandal"

Avastin Injection Scandal: Two Arrests Made Amidst Growing Concerns

Kashmore Rocket Launcher Explosion

Rocket Launcher Explosion Claims 8 Lives in Kashmore District

Blindfolded Chessboard Record

10-Year-Old Sets Blindfolded Chessboard Record in Malaysia

Post Archives

More Popular from Photonews

ICC World Cup 2023, Pakistan Cricket Team, Visa Approval
Sports

ICC World Cup 2023: Pakistan Confirmed to Participate After India’s Visa Approval

3 Min Read
Stephen A. Smith, Ceremonial Pitch, Baseball Controversy
Sports

Stephen A. Smith Booed After Bouncing First Pitch at Yankee Stadium by Fans

2 Min Read
UAE Youth Minister Applications
World

UAE’s Search for Youth Minister Attracts Over 4,700 Applicants

2 Min Read
Pakistan

Pakistan’s SC Overturns NAB Amendments: Ishar Dar and Others Summoned

The National Accountability Bureau (NAB) has "reopened" the assets-beyond-means case against former finance minister and senior…

September 27, 2023
Punjab

Rearrest of PTI Activists: The Legal Controversy & May 9 Unrest

Shortly after being released from Kot Lakhpat Jail, four PTI female activists, Sanam Javed, Afshan Tariq,…

September 26, 2023
Pakistan

Pakistan Initiates Repatriation of 1.1 Million Afghan Nationals

The Pakistan administration has taken a firm stance to send back 1.1 million unauthorized Afghan residents…

September 27, 2023
Tech

Generation Z Faces Rising Vulnerability to Online Scams, Says Deloitte Study

Recent findings by Deloitte have shown an alarming trend: Generation Z, those aged 14 to 26,…

September 26, 2023
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2023 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?