Emergency operations in flood-hit areas: World Bank says allocating $2bn from existing financed projects
- Country Director WB informs Finance Minister Ishaq Dar that around $1.5 billion would be mobilized this year due to the emergency situation
ISLAMABAD: Finance Minister Ishaq Dar, Saturday, briefed the World Bank (WB) about the economic challenges being faced by the country, as well as the devastations caused by the recent floods.
The finance minister held a meeting with Najy Benhassine, Country Director, World Bank and his team and stated that the present government is cognizant of these issues and is taking pragmatic steps to resolve bottlenecks to growth.
The present government is committed to set the economy on a sustainable and inclusive growth path.
The country director of the WB briefed the finance minister about the existing programs and future cooperation of the Bank for Pakistan and stated it is allocating $2 billion in funds from existing financed projects for emergency operations in flood-affected areas to support Pakistan. He further informed that around $ 1.5 billion in funds would be mobilized this year due to an emergency situation.
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Dar appreciated the WB for being a source of support in pursuing reform agenda and implementing various development projects for the country, adding that Pakistan values the financial and technical support provided by the WB for the institutional reforms and economic development of the country.
Dar assured the WB country director and his team of meeting prior actions for the timely completion of programmes and thanked them for their continuous support and facilitation.
Copyright Business Recorder, 2022
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