The World Bank Wednesday (April 1) has approved a $700 million additional financing to help Pakistan generate low-cost, renewable energy to provide affordable electricity supply to millions of users. The Additional Financing for Dasu Hydropower Stage I Project will finance the transmission line to complete the first phase of the Dasu hydropower plant that will … Read more
The KP health ministry and the World Bank are working together to combat the pandemic, said provincial Health Minister Taimur Khan Jhagra on Thursday. He said the World Bank is financing the purchase of 120 ventilators and 210,000 masks for the province. KP Health & World Bank are working together to address the COVID-19 pandemic. … Read more
World Bank and International Monetary Fund (IMF) (WB and IMF) have urged its bilateral creditors to suspend debt payments from International Development Association countries to help them combat the COVID-19 pandemic. Pakistan being part of IDA countries, will also get a marginal benefit if the creditor countries agree to the joint proposal of IMF and … Read more
Ehsaas District Development Portal “Data4Pakistan” developed in collaboration with World Bank will prove as a valuable resource for federal, provincial and district level policy makers for decision making. According to an official source, Data4Pakistan, the first initiative of its kind in the country, provides open and public access to a spatial interactive portal that has … Read more
The World Bank warned of the risk of a fresh global debt crisis after highlighting the issue of biggest build-up in borrowing in the past 50 years. British newpaper Guardian reported that In its half-yearly Global Economic Prospects (GEP), said of the four waves of debt accumulation since the 1970s. The latest the largest, fastest … Read more
World Bank granted a loan of $406.6 million to Pakistan for the development of the Khyber Pass Economic Corridor (KPEC) Project. Minister for Economic Affairs Hammad Azhar oversaw the signing ceremony of the KPEC at the division. According to the Economic Affairs Division, the project will construct 48 km long 4-Lane, dual carriageway high-speed access … Read more
Lahore Chamber of Commerce & Industry (LCCI) President Irfan Iqbal Sheikh has said that women empowerment should be a cornerstone of the government’s economic agenda for a sustainable development. He was speaking at a seminar on “Ease of Doing Business for Women”, organized by Standing Committee on EODB for Women, at the Lahore Chamber of … Read more
The Sindh government has signed loan agreements worth a total of $1.98 billion with the World Bank (WB) in Islamabad on Tuesday. On the Instructions of Chief Minister Sindh Syed Murad Ali Shah, Local Government Secretary Roshan Shaikh signed soft loan agreement for the CLICK, KWSSIP projects while Secretary Transport Ghulam Abbas Detho signed the … Read more
Collective research carried out by World Bank and Alibaba Group has revealed that E-commerce can flourish in developing countries and in rural areas and be a powerful instrument to create employment for semi-skilled workers, women and other groups. The report, E-Commerce Development: Experience from China, is based on a combination of statistical data collected for China as … Read more
The Pakistan Water and Power Development Authority (WAPDA) today signed a contract worth Rs. 52.5 billion with a joint venture of GE Hydro China and Power China Zhongnan Engineering Corporation for electro-mechanical works of Dasu Hydropower Project (Stage-I). The contract includes design, supply and installation of six francis turbines, generators, main transformers, generator and station … Read more
Federal Minister for Economic Affairs Hammad Azhar has said that the World Bank has restored Budgetary Support to Pakistan on account of strengthening of economic stability. According to details in a message posted on social networking website Twitter, he said that the World Bank has taken a decision due to the strengthening of Pakistan’s economy. … Read more
The Federal Board of Revenue (FBR) has decided in principle to move towards replacing the existing General Sales Tax (GST) with Value Added Tax (VAT) across the board for all sectors under the World Bank funded loan conditions. Under the proposed reform plan on which the implementation was so far deferred till establishment of Pakistan … Read more
Prime Minister Imran Khan met with the President of World Bank David Malpass. The meeting discussed the stability of the Pakistani economy and the need for significant reforms. Dollar pricing issues were also discussed in the meeting. The World Bank officials and government delegation attended the meeting in Islamabad. Advisers to finance Abdul Hafiz … Read more
World Bank in its new report announces that Saudi Arabia becomes the most developing country among 190 countries worldwide. Saudi Arabia gains 30th rank in list of countries with better business environment, says the World Bank. After that, Saudi Arabia has been designated as the world’s most important country for investment. According to reports by … Read more
Special Assistant to the Prime Minister for Information and Broadcasting Dr. Firdous Ashiq Awan has said that the ranking of World Bank has proven that Pakistan is heading right towards economic development. According to details, Dr. Firdous Ashiq Awan tweeted that this is happening for the first time in the history of country that the … Read more
Pakistan has jumped up 28 places on the World Bank’s Ease of Doing Business Index and attained 108th position besides securing a place among top ten global business climate improvers. Pakistan carried out six reforms in the last one year that helped improving its ranking from 136 to 108, according to the World Bank’s report … Read more
The World Bank says that Pakistan’s growth rate will be 2.4 percent in the next two years. According to the details, the World Bank predicts Pakistan’s economic growth targets for the next two years. Imran Khan’s government cannot meet the targets of inflation, public debt and fiscal deficit reduction, says World Bank. In the report … Read more
Chief Minister Syed Murad Ali Shah held meeting with an eight-member World Bank delegation led by their Global Director for Urban, Resilience and Land Practice Groups Dr Sameh Naquib Wahba Tadros. Sindh Chief Minister Syed Murad Ali Shah has allocated $10 million for improving Sindh Solid Waste Management Authority (SSWMA) on recommendation of the World … Read more
