The World Bank has authorized a financial package of $700 million aimed at strengthening macroeconomic stability and enhancing public service delivery in Pakistan. This funding forms part of the Public Resources for Inclusive Development—Multiphase Programmatic Approach (PRID-MPA), a nationwide initiative designed to support reforms at both federal and provincial levels to boost domestic revenue collection. According to the bank’s announcement, the total potential financing for this program could reach $1.35 billion.
Out of the approved amount, $600 million is allocated for federal-level initiatives, while $100 million is designated exclusively for programs in the Sindh province. The investment focuses on improving fiscal management and ensuring that public funds are utilized effectively and with greater transparency.
Bolormaa Amgaabazar, the World Bank’s country director for Pakistan, emphasized that sustainable and inclusive economic growth in the country depends on increasing internal revenue generation and strengthening accountability in public spending to improve outcomes for citizens.
— news from Anadolu Ajansı
— News Original —
World Bank approves $700M in financing for Pakistan’s economic stability, service delivery
ISTANBUL n nThe World Bank has approved $700 million in financing for Pakistan ‘s macroeconomic stability and service delivery. n nThe money is for the financing of the Public Resources for Inclusive Development—Multiphase Programmatic Approach (PRID-MPA), which is a national program supporting federal and provincial reforms to mobilize domestic revenue, with up to $1.35 billion in total financing, according to a statement from the World Bank on Friday. n nOf this amount, $600 million is reserved for federal programs and $100 million specifically for the Sindh provincial program. n n”Pakistan’s path to inclusive, sustainable growth requires mobilizing more domestic resources and ensuring they are used efficiently and transparently to deliver results for people,” said Bolormaa Amgaabazar, World Bank country director for Pakistan.