Friday, September 30, 2022

WB to provide $300mn for housing sector in Pakistan

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ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin, chaired a meeting at the finance division in Islamabad to discuss matters related housing sector, ARY News reported.

Chairman Naya Pakistan Housing and Development Authority Lt. General (Retd) Anwar Ali and Country Director World Bank (WB) Mr. Najy Benhassine attended the meeting.

The meeting discussed the possibility of providing additional funds for housing finance in Pakistan. SAPM on Finance and Revenue was also present in the meeting.

The WB country director shared World Bank’s proposed credit facilities for various interventions in the housing sector totaling $290mn.

“World Bank would support the efforts on the Government to boost the housing sector especially for low-cost housing,” he stated.

The finance minister appreciated the support of the World Bank and emphasized the importance of the housing sector in reviving economic growth.

Read more: Allotment procedure of LDA City Naya Pakistan Apartments approved

Shaukat Tarin also underlined that the housing sector was the priority sector of the PTI government and asked all the relevant officials to finalize all the technical details and complete the relevant actions relating to proposed World Bank funding within the next few days.

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