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Home Business & Stock

Pakistan, WB sign $442m loan accord for Punjab projects

MM News Staff by MM News Staff
June 27, 2021
Reading Time: 2 mins read
The project interventions will cover 2,000 villages in 16 districts

The project interventions will cover 2,000 villages in 16 districts

ISLAMABAD: The federal government signed a loan agreement worth $442.4 million with World Bank to provide equitable and sustainable access to clean drinking water, improve sanitation and reduce child stunting in Punjab.

According to a press release issued by Ministry of Economic Affairs (EAD), Secretary of Economic Affairs Division Noor Ahmed and World Bank Country Director Najy Benhassine signed the ‘Punjab Rural Sustainable Water Supply and Sanitation Project’ on behalf of their respective sides.

The project interventions will cover 2,000 villages in 16 districts of Punjab that are the poorest and have worst social infrastructure and the stunting issue.

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In line with the vision of Prime Minister Imran Khan to ensure equitable and inclusive socioeconomic opportunities, eight districts from South Punjab; Bahawalnagar, Bahawalpur, DG Khan, Lodhran, Multan, Muzaffargarh, Rahim Yar Khan and Rajanpur have been included in the project.

Furthermore, eight other districts from Central and North Punjab i.e. Bhakkar, Chakwal, Chiniot, Jhang, Khushab, Mianwali, Pakpattan and Sarghodha were included after due diligence. The project will have a direct impact on the life of citizens and create employment opportunities in the rural areas.

The government will invest in social infrastructure and improve service delivery to provide potable water through cost-effective and sustainable investments; offer safely managed sanitation facilities to reduce the total fecal burden in the village environment; and raise awareness and promote behaviour change for better hygiene practices at the household.

The project interventions will directly benefit six million rural people of Punjab and will support in reducing the incidence of stunting among children aged 0-3 years (40%) in Punjab.

The Secretary EAD thanked the World Bank’s country team for extending their continuous support to the government of Pakistan to help achieving sustainable economic development in Pakistan.

Country Director World Bank, Najy Benhassine ensured the World Bank’s continued financial and technical support to Pakistan in achieving the priority development objectives and to promote inclusive and sustainable economic growth in the country.

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