From the World Bank… Pakistan obtains a loan of $20 billion
According to sources in the Ministry of Economic Affairs, the loan will be part of the World Bank’s support within the framework of the National Partnership 35-2025, which focuses on sustainable economic development.
The World Bank’s Board of Directors is expected to approve the loan on January 14. Once approved, Martin Reiser, Vice President of the bank, is expected to visit Islamabad to discuss the loan program and its implementation.
In addition to the $20 billion, two World Bank entities will help Pakistan secure another $20 billion in private loans. This brings the financial package to $40 billion, which will be allocated to infrastructure development, climate resilience projects, and improving social services.
At the same time, The News newspaper reported that the government, in its attempt to achieve economic recovery, launched the National Economic Transformation Plan, to achieve ambitious economic goals, including doubling GDP growth and reducing poverty by half over a period of 5 years.
The plan also includes attracting investments worth $29 billion, under the supervision of the Private Investment Facilitation Council.
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