Bhai Zakir
BANNED
- Joined
- Jun 26, 2012
- Messages
- 2,371
- Reaction score
- -1
- Country
- Location
World Bank - Pakistan seeks $1.5bn under IDA framework
ISLAMABAD: Pakistan has asked the World Bank to commit $1.5 billion under the 16th Financing Framework of International Development Association known as ‘IDA-16’ before the end of June this year to finance projects in the energy and social sectors aimed at reducing poverty.
Official sources told Dawn that the issue of releasing $1.5bn has been raised by Prime Minister Nawaz Sharif when heads of the World Bank Group held meeting with him recently to discuss the economic plan of the government and the energy crisis.The prime minister, sources said, informed the World Bank delegation that regional cooperation needed a boost as the government intends to start with concrete projects such as CASA1000 and regional trade with India.
During the meeting, World Bank’s support to Bhasha dam was a key message that was highlighted by the government, and the bank conveyed the importance of it being involved in projects that can realistically be delivered on time keeping in minds aspects such as safeguard requirements.
The IDA-16 was finalised in December 2010 resulting in the record replenishment of $49.3bn to finance projects over the three years period ending June 2014.
Pakistan is among the recipient of funds under IDA-16, the World Bank’s main instrument for achieving the goals of ending extreme poverty and boosting shared prosperity in the world’s poorest countries home to nearly one billion people living on less than $1.25 a day.
A group of executive directors of the World Bank is expected to visit Islamabad in March, and besides reviewing the WB-assisted projects in Pakistan, it is expected that a number of ongoing development projects will be reassessed for IDA financing under the IDA-17, sources said.
Finance Minister Ishaq Dar outlined the key priorities of the government for the next 3 to 5 years as energy, macroeconomic stability, social protection and infrastructure.
He told the WB delegation that the government plans to increase allocation for the safety net programme and IDA can consider additional financing from IDA-16 remaining balance.
Pakistan seeks $1.5bn under IDA framework - DAWN.COM
ISLAMABAD: Pakistan has asked the World Bank to commit $1.5 billion under the 16th Financing Framework of International Development Association known as ‘IDA-16’ before the end of June this year to finance projects in the energy and social sectors aimed at reducing poverty.
Official sources told Dawn that the issue of releasing $1.5bn has been raised by Prime Minister Nawaz Sharif when heads of the World Bank Group held meeting with him recently to discuss the economic plan of the government and the energy crisis.The prime minister, sources said, informed the World Bank delegation that regional cooperation needed a boost as the government intends to start with concrete projects such as CASA1000 and regional trade with India.
During the meeting, World Bank’s support to Bhasha dam was a key message that was highlighted by the government, and the bank conveyed the importance of it being involved in projects that can realistically be delivered on time keeping in minds aspects such as safeguard requirements.
The IDA-16 was finalised in December 2010 resulting in the record replenishment of $49.3bn to finance projects over the three years period ending June 2014.
Pakistan is among the recipient of funds under IDA-16, the World Bank’s main instrument for achieving the goals of ending extreme poverty and boosting shared prosperity in the world’s poorest countries home to nearly one billion people living on less than $1.25 a day.
A group of executive directors of the World Bank is expected to visit Islamabad in March, and besides reviewing the WB-assisted projects in Pakistan, it is expected that a number of ongoing development projects will be reassessed for IDA financing under the IDA-17, sources said.
Finance Minister Ishaq Dar outlined the key priorities of the government for the next 3 to 5 years as energy, macroeconomic stability, social protection and infrastructure.
He told the WB delegation that the government plans to increase allocation for the safety net programme and IDA can consider additional financing from IDA-16 remaining balance.
Pakistan seeks $1.5bn under IDA framework - DAWN.COM
