World Bank approves $149.7 million for two projects in Pakistan

ISLAMABAD:  The World Bank has approved 149.7 million dollars in financing for two projected in Pakistan, says in media reports.

As per details, the funds were okayed to support the projects related to digital economy and improved flood resilience. This has been stated in a statement issued by the international financial institution.

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The allocated funding of $78 million dollars for the Digital Economy Enhancement Project is expected to enhance financial management through technology-driven solutions and data-driven decision-making. The investment in digital economy is also likely to streamline public services, increase transparency and foster economic growth.

Simultaneously, the $71.7 million allocation for Sindh Barrages Improvement Project is likely to ensure greater flood resilience.

Last year in July, the World Bank’s Board of Executive Directors Thursday approved $100 million for the Punjab Family Planning Program to increase the utilization of family planning services in Pakistan’s Punjab province.

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“This important program aims to achieve universal access to reproductive healthcare and to raise the usage of family planning methods in Punjab to 60 per cent by 2030,” said Najy Benhassine, World Bank Country Director for Pakistan, “This is critical for Pakistan’s development, as excessive population growth rates hampers development, slows the accumulation of human capital, and contributes to keeping families in poverty.” – INP