World Bank approves $918 million Loan for Pakistan

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World Bank approves $918 million Loan for Pakistan

Source: Economic Affairs Division, Govt of Pak

Pakistan and World Bank have signed three loan agreements totalling $918 million aimed at achieving the sustainable economic development of the country through various programs. The breakup of the Loan program is as follows.

|$400 million -Higher Education Development in Pakistan’ | 

Aiming to achieve academic excellence in strategic sectors, supporting decentralised higher education institutes for improved teaching and learning, introducing modern technology, and data-driven services.

|$400 million – ‘Pakistan Raises Revenue Program’| 

The programme aims to bring a sustainable increase in domestic revenue by increasing the tax base and facilitating compliance

|$118 million – ‘Khyber Pakhtunkhwa Revenue Mobilisation and Resource Management Program’|
Projected to increase Revenue collection of Khyber Pakhtunkhwa while improving the management of public resources.

Dr. Hafeez Sheikh, Advisor to Prime Minister on Finance and Economy took to Twitter to announce the same



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