Pakistan receives over $505m from World Bank

ISLAMABAD – Pakistan received over 505 million dollars from the World Bank on Tuesday under a financing agreement signed last week to provide financial support.

The State Bank of Pakistan has announced that this is a concessional financing in the form of budgetary support with the objective to enhancing the institutional framework and to improve fiscal management, and improving the regulatory framework.

#SBP has received USD 505.5 mn today from @WorldBank

— SBP (@StateBank_Pak) July 28, 2020

Last week, the World Bank had approved Rs84.16 billion loan under the Resilient Institutions for Sustainable Economy (RISE) programme with seven major conditions for undertaking structural reforms.