The Board of Directors of the WB also approved $425 million loan for National Transmission Modernisation Project-I. The $425 million loan has been obtained on commercial terms that will be returned over a period of 21 years, including a grace period of six years. The $425 million loan will be utilised to modernise the national transmission system by ehabilitating selected 500kV and 220kV substations and transmission lines. Pakistan had also availed $800 million loan from the Asian Development Bank for improving the transmission system but its implementation was marred by delays. World Bank report highlights issues for Pakistan’s labour forcePublic FinanceThe lender also approved $400 million loan for improving the current legal regime of Public Finance Management.

Source: The Express Tribune December 20, 2017 09:19 UTC