Pakistan to get $1.5 billion from World Bank for uplift projects

ISLAMABAD: The World Bank’s Country Director for Pakistan Patchamuthu Illangovan called on Federal Minister for Planning, Development, and Reform Makhdum Khusro Bakhtyar in Islamabad on Thursday.

During the meeting, Illangovan informed the minister that the World Bank will disburse around $1.5 billion this financial year for various projects as part of its active programme.

Appreciating the contribution of the World Bank in the socio-economic development of the country, the minister said that measures are being taken to expedite the implementation of foreign-funded projects by streamlining the process.

He said it has been decided to review the foreign-funded portfolio every month in consultation with all relevant stakeholders to remove bottlenecks and gaps in implementation of projects.

Various WB funded projects came under discussion. Mr Illangovan said that the World Bank will continue to contribute towards the development of Pakistan

Deputy Chairman Planning Commission Dr Muhammad Jahanzeb Khan, members Planning Commission and senior officials of the ministry were also present in the meeting.