World Bank restores budgetary support to Pakistan

ISLAMABAD (92 News) – The World Bank has restored Budgetary Support to Pakistan on account of strengthening of economic stability. Minister for Economic Affairs Hammad Azhar stated in his tweet and said that both the Asian Development Bank and the World Bank had suspended budgetary support to Pakistan during 2017 due to rising macro-economic imbalances that had risen in the economy at that time. “The World Bank has restored Budgetary Support to Pakistan on account of strengthening of economic stability. Both ADB and WB had suspended budgetary support to Pakistan during 2017 due to rising macroeconomic imbalances that had arisen in the economy at that time,” the minister tweeted.

The World Bank has restored Budgetary Support to Pakistan on account of strengthening of economic stability. Both ADB and WB had suspended budgetary support to Pakistan during 2017 due to rising macroeconomic imbalances that had arisen in the economy at that time.

— Hammad Azhar (@Hammad_Azhar) November 22, 2019

On August 30, world Bank, a premier global lender, will disburse around $1.5 billion dollars this financial year for various projects in Pakistan as part of its active program. This was stated by Country Director of the Bank, Patchamuthu Illangovan, at a meeting with Federal Minister for Planning, Khusro Bakhtyar in Islamabad on Thursday. During the meeting, various WB funded projects came under discussion.