The government of Pakistan has signed two financing agreements of $500 million with the World Bank including the “Punjab Resilient and Inclusive Agriculture Transformation Project” worth $200 million and the “Khyber Pakhtunkhwa Accessibility Project” worth $300 million.
Dr. Kazim Niaz, Secretary, Ministry of Economic Affairs signed the financing agreements on behalf of the Government of Pakistan while Najy Benhassine, Country Director, World Bank signed on behalf of the World Bank.
Punjab Resilient and Inclusive Agriculture Transformation Project is designed to enhance equitable access to, and productivity of, agricultural water and improve the incomes of farmers, particularly small and medium landholders. The project will contribute to transforming Punjab’s agriculture into a more inclusive, productive, sustainable, and market-oriented sector.
Khyber Pakhtunkhwa Rural Accessibility Project is aimed to improve safe and climate-resilient rural accessibility to schools, health facilities, and markets in Khyber Pakhtunkhwa.
Speaking at the occasion, Dr. Niaz reiterated the commitment of the federal government to extend all possible support to the provincial governments in addressing their financial needs necessary to overcome the development challenges and to achieve economic growth in the country that is more inclusive and sustainable.
In October, the Ministry of Economic Affairs signed three other important projects worth $690 million (including an $82 million grant), with the World Bank for land management and developing the housing sector in Punjab and national-level interventions in the health sector.
