ISLAMABAD: The World Bank (WB) has stated that the media reports claiming that it has delayed the release of loans to the tune of $1.1 billion to Pakistan are unfounded.

The Bank Country Director for Pakistan, Najy Benhassine, tweeted, “the press reports that refer to a World Bank decision to delay approval of potential Bank operations in Pakistan are unfounded. The tentative Board approval dates of all of our proposed operations, as well as their amounts, are indicative.

World Bank delays approval of $1.1bn loans for Pakistan

"The World Bank decides on the timing for sharing project proposals for Board consideration following due process and based on the proposed projects’ readiness”.

Copyright Business Recorder, 2023