World Bank helps cash-strapped Pakistan with USD 1 billion loan
Days after the International Monetary Federation (IMF) cleared USD 500 billion in loans to Pakistan, the World Bank offered to grant a loan of USD 1.336 billion to the cash-strapped nation.
A total of six project agreements were signed on Friday to support the government's initiatives in social protection, disaster and climate risk management, improving infrastructure, agriculture, food security, human capital development and governance sectors.
Amidst the COVID-19 pandemic, millions of families in Pakistan face economic hardship. The informal sector is the most affected, with many left jobless.
(Edited by Shankar Kumar Turha)