World Bank to provide $1.3bn for seven projects in Pakistan
ISLAMABAD: The World Bank signed agreements to provide $1.336 billion worth of assistance including grant of $128 million for social protection, improving human capital and building resilience in Pakistan.
Federal Minister for Economic Affairs, Makhdum Khusro Bakhtiar here witnessed the signing ceremony of seven project agreements worth $1.336 billion. World Bank Country Director Najy Benhassine signed the agreements on behalf of the financial institution.
Federal Secretary Ministry of Economic Affairs Noor Ahmed signed the Financing Agreements on behalf of the government of Pakistan while representatives of governments of Sindh, Khyber Pakhtunkhwa and Balochistan signed their respective project agreements online.
This financing will support the government’s initiatives in social protection, disaster and climate risk management, improving infrastructure for resilience, agriculture and food security, human capital development and governance sectors.
Federal minister Bakhtiar thanked the World Bank m for extending their continuous support to the Government of Pakistan in achieving sustainable economic development in the country.
He said the continued and enhanced support shows the confidence of international financial institution and development partners on the progress and reforms being taken by the present government.
The minister reiterated the commitment of the Federal Government to extend all possible support to the provincial governments to address the financing needs necessary to overcome the development issues.
During the ceremony, the Government of Pakistan and the World Bank signed the following seven project agreements including Crisis Resilient Social Protection Program (CRISP) of $600 million. The objective of the program was to support the development of a more adaptive social protection system that will contribute to future crisis-resilience among poor and vulnerable households in the country.
The program was focused on the key initiatives being undertaken under the Ehsaas Conditional Cash Transfer (CCT) programs namely Kafaalat, Waseela-e-Taleem, and Nashonuma. The financial inclusion and informal worker support initiatives of Ehsaas have also been included in the programme.
The Locust Emergency and Food Security project cost $200 million. It would provide a strengthened and better coordinated government system and will introduce and implement a set of activities to address the desert locust outbreak and to reduce vulnerability to climate change.
Khyber Pakhtunkhwa Human Capital Investment Project has been allocated $200 million. The objective of the project is to improve availability, utilisation and quality of primary healthcare services and elementary education services in four districts – Peshawar, Nowshera Haripur and Swabi – that have been hosting refugees.
Sindh Resilience Project spend $200 million. The objective of the project is to mitigate flood and drought risks in selected areas and strengthen Sindh’s capacity to manage natural disasters and public health emergencies.
The project will support the establishment of the Sindh Emergency Service, including the development of six divisional headquarters operational facilities, provision of equipment, and training of personnel.
The project will also support the construction of 35 small rainwater-fed recharge dams in drought-prone regions of Sindh including Karachi, Jamshoro, Thatta, Dadu and Tharparkar districts.
Balochistan Livelihood & Entrepreneurship and Balochistan Human Capital Investment Projects has been allocated $86 million. These projects aim to promote employment opportunities for rural communities, achieve sustainability of enterprises and improve utilisation of quality health and education services in various districts of Balochistan.
The Supporting Institutional Interventions for Management of Refugees project costs $50 million. The objective of the project is to improve capacity for managing refugees and host communities.
