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WB to lend Pakistan $2b during current fiscal year

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WB

ISLAMABAD: The World Bank (WB) will provide Pakistan with loans exceeding $2 billion during the ongoing fiscal year to support multiple development initiatives. According to the Economic Affairs Division, the financing will be extended through the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD). At present, Pakistan is implementing 57 … Read more

WB approves major funding for education, water in Balochistan

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WB

ISLAMABAD: The World Bank(WB) has approved $194 million in funding for two key projects in Balochistan aimed at improving access to education and enhancing water security in the province. According to Najy Benhassine, World Bank Country Director for Pakistan, the initiatives will play a critical role in addressing Balochistan’s developmental challenges. “The GRADES-Balochistan project is … Read more

WB approves $108m to boost tourism and road infrastructure in KP

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WB

ISLAMABAD: The World Bank (WB) has approved an additional $108 million new funding which wll be used for two key development projects in Khyber Pakhtunkhwa. It also focuses on disaster preparedness and safer transport for girls. The project is expected to benefit over 1.7 million people in the province. The Khyber Pakhtunkhwa Integrated Tourism Development … Read more

WB assures support for reforms, digitalization programmes

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WB assures support for reforms, digitalization programmes

ISLAMABAD: The World Bank (WB) has assured Pakistan of its full support for reforms and digitalization programmes to stabilize economy and enhance revenues. According to A press statement issued by finance ministry here, Federal Minister for Finance and Revenue, Muhammad Aurangzeb, met with President World Bank Group, Ajay Banga and highlighted Pakistan’s progress under the … Read more

WB approves $1.69bn for Sindh flood affected people

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World Bank

ISLAMABAD: The World Bank’s Board of Executive Directors has approved $1.692 billion in financing, for five projects to support people living in flood-affected areas of Sindh Province in Pakistan. Three projects support rehabilitation and housing reconstruction and the restoration of crop production for vulnerable communities, while another two projects support health services for mothers and … Read more

Ishaq Dar leaves for US to negotiate with IMF, WB

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Ishaq Dar case
  • Ishaq Dar and a delegation left for the United States (US) on Tuesday to engage with international lenders
  • The delegation led by Finance Minister Ishaq Dar will meet with the IMF and WB
  • Pakistan has been requesting fresh terms from international lenders in the aftermath of disastrous floods in the country

ISLAMABAD: Finance Minister Ishaq Dar and a delegation left for the United States (US) on Tuesday to engage with international lenders.

According to reports, the delegation led by Finance Minister Ishaq Dar will meet with the International Monetary Fund (IMF) and the World Bank (WB).

Pakistan has been requesting fresh terms from international lenders in the aftermath of disastrous floods in the country.

After taking over the finance minister, Ishaq Dar met virtually with Nathan Porter, the Mission Chief of the International Monetary Fund (IMF).

According to a handout provided by the Finance Ministry, the finance minister briefed the IMF on the country’s economic predicament as a result of the disastrous floods that impacted infrastructure, agriculture, and people’s livelihoods.

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Balochistan CM Bizenjo, WB team discuss development projects

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Balochistan CM Bizenjo, WB team

World Bank Country Director Mr. Najib Ben Hussain met Chief Minister Balochistan Mir Abdul Quddus Bizenjo in Quetta on Friday. In the meeting, they discussed ongoing and proposed projects of World Bank in socio-economic sector of Balochistan. Read more: PM Shehbaz launches MILGEM-class ship PNS Badar in Karachi The World Bank expressed confidence in Balochistan government’s … Read more

WB Abu Dhabi will open its doors next month

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WB Abu Dhabi will open its doors next month

On November 11th, the WB Abu Dhabi hotel on Yas Island will open. Miral, an Abu Dhabi-based investor, collaborated with Warner Bros. on the project. Hilton will run it as part of the Curio Collection. Guests at the hotel will be taken on a trip through film and television, with the history and library of … Read more

Top economies called upon by IMF, WTO, WB and WHO for equal distribution of vaccines

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equal distribution of vaccines

Geneva: On Tuesday, the heads of four major global organizations said that in order to bring the coronavirus under control, world leaders must make a “new commitment” to a more equal distribution of vaccines. Their joint concern is that the pandemic, which has already killed more than 3.5 million people globally, has been prolonged and … Read more

PM Imran Assigns Naveed Kamran Baloch for World Bank post

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Naveed Kamran Baloch

Prime Minister Imran Khan has assigned Naveed Kamran Baloch as Executive Director (ED) to the World Bank (WB). According to the details, Imran Khan has granted approval of Baloch’s appointment for the ED WB position and he would be leaving the country for Washington on October 31, 2020, replacing Shahid Ashraf Tarar. The Economic Affairs … Read more

WB data shows poor countries could save $12 bn amid pandemic

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World Bank

According to the new estimates issued by the World Bank WB , poor countries across the globe could save over $12 billion owed to sovereign and other creditors this year through their participation in a debt-relief program. The media report said that the estimates were issued by the database from the World Bank WB . … Read more

Coronavirus: Nationwide tally of deaths jump to 2,729

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Pakistan

As Pakistan confirmed 5,248 coronavirus cases in one day with additional 97 deaths, the national infection toll now stands at 144, 482. According to the latest figures by the National Command and Operation Center (NCOC), nationwide tally of fatalities has jumped to 2,729. Punjab remains the worst-hit province by the pandemic followed by Sindh, Khyber … Read more

KP health ministry, WB working together to combat COVID 19

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KP

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

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