The government signed an agreement with the World Bank amounting to $150 million as Additional Financing for Social Safety Net Project on Monday in the Economic Affairs Division (EAD). The objective of the project is to support the expansion and strengthen the administration and performance of Pakistan's safety net with particular focus on the BISP as the national safety net platform.
The project consists of the following parts:
Part 1: Establishing a National Targeting System and Expanding Coverage for the Basic Safety Net System.
Part 2: Strengthening Safety Net Operations.
Part 3: Enhancing the Management, Accountability and Evaluation.
Part 4: Developing the Social Protection Policy.
The agreement was signed by Dr Waqar Masood Khan, Secretary, Economic Affairs Division on behalf of the Government of Pakistan and Rachid Benmessaoud, Country Director, on behalf of the World Bank. Muhammad Sher Khan, Secretary, Benazir Income Support Programme (BISP) signed the Project Agreement on behalf of BISP.-PR