Pakistan and World Bank (WB) on Thursday signed three agreements amounting to US $115.50 million for financing projects in different sectors. The amount would be utilised for Additional Financing for Punjab Education Sector Project (US $50 million), Additional Financing for Third Partnership for Polio Eradication Project (US $41 million) and Additional Financing for PIFRA-II (US $24.50 million).
The agreements were signed, Secretary, Economic Affairs Division, Abdul Wajid Rana and Country Director World Bank, Rachid Benmessaoud while Muhammad Aslam Kambo signed the project Agreement of Additional Financing for Punjab Education Sector Project on behalf of the Punjab government.
The overall objectives of Additional Financing for Punjab Education Sector Project are to improve and strengthen the fiduciary practices and institutional capacity, improve quality of education, education access and equity, school management, governance and monitoring, assist in building the institutional capacity of project implementing entities, education sector and agencies.
The Third Partnership for Polio Eradication Project (Additional Financing) with the World Bank will assist the government for procuring, supply and use of Oral Polio Vaccine (OPV) for purpose of immunising children under five (5) years of age under the supplemental immunisation activities. The Additional Financing for PIFRA-II is aimed at building capacity to improve accuracy, public financial management, accountability and transparency as well as to enhance the capacity of public sector managers in order to use credible financial information for better and informed decision making.