WB approves $500m loan for Pakistan

Mian Arshad

Islamabad—Pakistan and World Bank will sign Financing Agreement today here and then World Bank will disburse $500 million to Pakistan in a single tranche.
Earlier, the World Bank Board of Executive Directors has approved an amount of $ 500 million IDA Development Policy Credit (DPC) “Competitiveness and Growth Development Policy Financing” and IBRD Policy based guarantee of $420 to support origination of commercial financing up to $ 1 billion.
The Bank support is to assist Pakistan in carrying out the critical economic structural reforms initiated by the present Government to accelerate and reinvigorate inclusive growth in Pakistan.
The Credit has two broad development objectives and pillars; improving the business environment and enhancing fiscal management through improving revenue management and making public spending more pro-poor.

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