mm-news-@dmin The World Bank has approved $20 billion loan for Pakistan. A concessional interest rate of just 2%. The amount will be provided in the next 10 years, sources revealed on Saturday.
As per the sources, the funding will support six priority sectors. Including climate resilience, poverty alleviation, health, education, child stunting reduction, and inclusive development.
Clean energy, improved air quality and the promotion of private investment have also been identified as key areas of focus.
The concessional loan forms part of a ten-year Country Partnership Framework already finalized between Pakistan and the World Bank. Implementation of the framework is now in its final phase of planning, with a national plan currently under preparation.
“Under the same framework, officials expect to make an additional $20 billion available to Pakistan’s private sector, though at relatively higher interest rates. They project the total volume of lending under the agreement to reach $40 billion over the next decade.”
“Officials said the World Bank’s International Development Association (IDA) will channel sovereign loans to Pakistan, while the International Finance Corporation (IFC) will route financing for the private sector.”
