Govt seeks time to meet WB’s loan terms

Observer Report

The government on Tuesday sought more time from the World Bank to implement its conditions for qualifying for $1.5 billion loans to meet the burgeoning external financing needs.

Pakistan is seeking three budget support loans, totalling $1.5 billion, from the World Bank before the end of June, the sources said, adding that the World Bank had set May 10 deadline to implement the conditions for the loans approval.

Finance Ministry officials said that Finance Minister Shaukat Tarin held a virtual meeting with Axel van Trotsenburg, the managing director (operations) of the World Bank, to review the status of the three under consideration loans.



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