SBP receives 505.5 million dollars from the World Bank

MG News | July 28, 2020 at 12:39 PM GMT+05:00

0:00

July 28, 2020 (MLN): The State Bank of Pakistan has received 505.5 million dollars from the World Bank today.

The aforesaid announcement was made by SBP on its official twitter handle.

Pakistan and World Bank had signed a financing agreement last week to provide financial support to the country.

This is concessional financing in the form of budgetary support that is being provided under Resilient Institutions for Sustainable Economy (RISE), Development Policy Financing with the objective to enhancing the policy and institutional framework to improve fiscal management, and improving the regulatory framework to foster growth and competitiveness.

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