The loan will provid­e capita­l for develo­pment across variou­s sector­sISLAMABAD : The World Bank and Pakistan on Tuesday signed three loan agreements providing capital for development across various sectors as part of the government’s plan to steer the nation out of the economic crisis. Adviser to the Prime Minister on Finance Dr Hafeez Sheikh oversaw the signing ceremony that granted a total of $918 million to Pakistan. Another $400m agreement is a higher education development programme pursuing to nurture academic excellence in strategic sectors of the country’s ailing economy. The third programme, worth $118m, is earmarked for revenue mobilisation and resource management project for the Khyber-Pakhtunkhwa (K-P). Secretary Economic Affairs Division Noor Ahmed signed the financing agreements on behalf of Pakistan whereas Country Director WB Patchamuthu Illangovan represented the global funding body.

Source: The Express Tribune June 18, 2019 08:03 UTC