ISLAMABAD – World Bank Saturday announced to allocate $ 2 billion funds from its existing financed projects for emergency operations in flood affected areas to support Pakistan.
The announcement was made by Country Director World Bank Najy Benhassine in a meeting with Finance Minister Ishaq Dar in Islamabad.
He further informed that around $ 1.5 billion funds would be mobilized this year due to emergency situation.
Najy Benhassine also extended felicitations to the Finance Minister on assuming the charge of the office and briefed on existing programs and future cooperation of the World Bank for Pakistan.
The Pakistani minister appreciated the World Bank for being a source of support in pursuing reform agenda and implementing various development projects for the country.
He further said that Pakistan values the financial and technical support provided by the World Bank for the institutional reforms and economic development of the country.
Dar said that the Government is cognizant of economic issues and is taking pragmatic steps to resolve bottlenecks to growth.
He said that the present government is committed to set the economy on sustainable and inclusive growth path. He also informed about the devastations caused by the recent floods in the country.
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