Pakistan, World Bank sign MoU for cooperation in housing sector

ISLAMABAD: Pakistan and the World Bank signed a Memorandum of Understanding (MoU) for cooperation in housing sector during an international Housing Conference in Islamabad on Thursday, ARY News reported.

Prime Minister Imran Khan addressing the housing conference said that the housing scheme will benefit the poor segments of the society.

The Prime Minister said the World Bank has itself decided to support the housing project. He said for the project positive response also received from overseas Pakistanis and Chinese and Malaysian companies.

The prime minister said that the housing project will be launched next month and provide five million housing units to the low income population.

He said affordable houses will also be constructed in the tribal districts through micro-financing.

The project will directly benefit forty different industries related with the construction business, Khan said.

A World Bank delegation, headed by Vice President South Asia Hartwig Schafe had recently called on Prime Minister Imran Khan and expressed its satisfaction over his government’s economic policies.

The delegation, while lauding the prime minister’s vision on the economic stability of the country and human development, offered to help the government transform its vision into reality.

The bank’s delegation also offered its assistance in attracting foreign investment and funds for Naya Pakistan Housing Programme (NPHP).

The delegation said that the bank was ready to provide technical support to Pakistan in various sectors and sharing of expertise.

The delegation briefed the prime minister about various ongoing projects of the World Bank in different sectors including water supply, sewerage and waste management, transportation and connectivity, capacity building and ease of doing business in the country.