World Bank to repurpose $1 billion financing to support Pakistan

April 13, 2020(MLN): World Bank will increase funding to $1 billion by repurposing the existing projects to support Pakistan during the COVID-19 crisis by building safety net programs to vulnerable workers, supporting the small enterprises and providing emergency food supplies to people in quarantine or with limited mobility.  

This increased funding will provide support to federal and provincial governments in purchasing necessary equipment and supplies.

The World Bank’s Board of Executive Directors have already approved a $200 million package, of which $150 million to help immediately purchase medical equipment and supplies and about $50 million resources will be used to support poor and vulnerable families through Ehsas cash transfers program, said Illango Patchamuthu, World Bank Country Director for Pakistan.

The WB Director said World Bank will continue working on enhanced funding for Pakistan to combat COVID-19.

Copyright Mettis Link News

Posted on: 2020-04-13T14:07:00+05:00

34137