ISLAMABAD: The Government of Pakistan and the World Bank signed three loan agreements worth US$ 918 million to help support revenue mobilisation and higher education development in the country on Tuesday. The World Bank will provide US$400 million for the programme ‘Pakistan Raises Revenue Program’ which is aimed at contributing to a sustainable increase in domestic revenue by broadening the tax base and facilitating compliance. The Higher Education Development in Pakistan worth US$400 million would support research excellence in strategic sectors of the economy, improve teaching and learning and strengthening governance in the higher education sector. The project would finance for nurturing academic excellence in strategic sectors; supporting decentralized higher education institutes for improved teaching and learning; equipping students and higher education institutions with modern technology; higher education management information system and data drive services; and capacity building, project management and monitoring and evaluation. Later, the World Bank country director held a meeting with the finance adviser where Shaikh thanked the World Bank team for extending continuous support to the Government of Pakistan in its efforts to achieve the sustainable economic development of the country.

Source: Pakistan Today June 18, 2019 08:15 UTC