Justin Joseph
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World Bank cancels aid to Pakistan
ISLAMABAD, (Xinhua) -- The World Bank (WB) cancelled technical aid worth 0.75 million dollars to Pakistan because of the delay in projects, local media reported Saturday.
According to the private TV Dawn News, the aid was to be allocated for a project to foster Pakistan's mineral resource sector. However, the government failed to use the aid as no work was done regarding the said project.
The aid was delivered by Japan on behalf of the World Bank. An agreement regarding the project was inked between Pakistan and Japan in June 2007.
The deadline for the project's completion was March 2008. A WB team visited Pakistan in April 2008 to investigate the matter. Pakistan then requested an extension into the deadline, to March 2009.
However, no project was initiated even till March 31, 2009.
World Bank cancels aid to Pakistan
ISLAMABAD, (Xinhua) -- The World Bank (WB) cancelled technical aid worth 0.75 million dollars to Pakistan because of the delay in projects, local media reported Saturday.
According to the private TV Dawn News, the aid was to be allocated for a project to foster Pakistan's mineral resource sector. However, the government failed to use the aid as no work was done regarding the said project.
The aid was delivered by Japan on behalf of the World Bank. An agreement regarding the project was inked between Pakistan and Japan in June 2007.
The deadline for the project's completion was March 2008. A WB team visited Pakistan in April 2008 to investigate the matter. Pakistan then requested an extension into the deadline, to March 2009.
However, no project was initiated even till March 31, 2009.
World Bank cancels aid to Pakistan