Web Desk
The Division of Economic Affairs confirmed that the funds will be allocated to various initiatives aimed at strengthening infrastructure, education and emergency recovery efforts.
According to a document from the Department of Economic Affairs, work is underway with the support of the World Bank on approximately 58 projects with a total estimated cost of $14.8 billion. Pakistan has already received $6.16 billion from the World Bank for these development efforts.
By 2029, the World Bank is expected to provide an additional $8.7 billion, which includes $1 billion to finance the first phase of the Dasu Hydropower Project. The Sindh Flood Emergency Recovery Project and the Sindh Housing Project are to receive $500 million.
Other notable allocations include US$460 million for the Khyber Pass Economic Corridor project and US$400 million for development projects in Khyber Pakhtunkhwa. The higher education development project is also earmarked for 400 million dollars.
A rural water supply project in Punjab will benefit from $440 million, while $300 million is allocated to improve access to rural areas in Khyber Pakhtunkhwa. In addition, the Karachi Solid Waste Emergency Project will receive $100 million.
Reforms in the Federal Board of Revenue (FBR) and human capital development projects in Punjab are also part of the comprehensive plan supported by the World Bank.
This significant financial commitment underscores the World Bank’s ongoing partnership with Pakistan and its commitment to supporting sustainable development and economic growth in the country. The upcoming projects are expected to have a substantial impact on improving living standards and enhancing economic opportunities for the people of Pakistan.
Web Desk
