Islamabad: The World Bank has announced it will provide Pakistan with $8.7 billion in loans over the next five years for various development projects. According to documents from the Economic Affairs Division, the World Bank is currently involved in 58 projects in Pakistan, with a total estimated cost of $14.8 billion. So far, Pakistan has received $6.16 billion from these projects.
The new funding includes $1 billion in additional financing for the Dasu Hydropower Project Phase I, $700 million for the Dasu Transmission Line project, and $584.4 million for Dasu Hydropower Stage I. Furthermore, $500 million will be allocated for the Sindh Flood Emergency Rehabilitation Project and another $500 million for housing projects in Sindh. Khyber Pakhtunkhwa will receive $400 million for various development and expenditure projects.
The funding also includes $460 million for the China-Pakistan Economic Corridor (CPEC) project, $450 million for hydro and renewable energy projects in Khyber Pakhtunkhwa, and $400 million for higher education development. Additionally, $258 million will be provided for the National Health Support Project Phase I, $440 million for water supply projects in Punjab’s rural areas, $390 million for the Tarbela Fourth Extension Project, and $300 million for rural access projects in Khyber Pakhtunkhwa.
World Bank to Lend Pakistan $8.7 Billion Over Next 5 Years
