Pakistan receives over $505m from World Bank

04:13 PM | 28 Jul, 2020
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.

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.