World Bank makes 10-year plan with Pakistan for US$20 billion in funding

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World Bank makes 10-year plan with Pakistan for US$20 billion in funding - Channel News Asia

Quick Summary:

ISLAMABAD: Pakistan's prime minister on Wednesday (Jan 15) welcomed a first-of-its-kind agreement with the World Bank for a plan to focus US$20 billion in lending to the cash-strapped nation over the coming decade on development issues like the impact of climate change as well as boosting private-sector growth.

The country has teetered on the brink of economic crisis for several years and economists and international financial institutions have called for major economic reforms.

Pakistan's Prime Minister Shehbaz Sharif addresses the 79th United Nations General Assembly at UN headquarters in New York, on Sep 27, 2024.