ISLAMABAD: In a major move to support debt-ridden Pakistan, the World Bank has approved a $700 million (approximately ₹6,200 crore) financial assistance package. According to reports released on Saturday, this funding is aimed at ensuring macroeconomic stability and improving the delivery of essential services across the country.
The funds are being released under the ‘Public Resources for Inclusive Development’ program. This marks the first phase of a larger multi-year initiative that could eventually provide up to $1.35 billion in total assistance.
The current allocation is divided as $600 million for federal-level programs and structural reforms and $100 million specifically for development projects in the Sindh province. This follows a previous grant of $47.9 million approved in August, which was directed toward improving primary education in the Punjab province.
Bolormaa Amgaabazar, the World Bank Country Director for Pakistan, emphasized that the efficient and transparent use of domestic resources is critical for the country’s sustainable growth.
The primary objectives of this financial boost include modernizing the tax system to increase internal revenue. Ensuring steady funding for schools, clinics, and healthcare facilities. Safeguarding social and climate-related investments during the ongoing economic crisis.
