ISLAMABAD / KARACHI: The World Bank has approved a 500 million loan for Pakistan.
According to a handout issued by the World Bank’s Pakistan office, the World Bank’s Board of Executive Directors has allocated Rs. Approved a million-dollar loan.
The provision of credit has also been made conditional on fundamental reforms in the energy sector to achieve low-carbon energy. According to the World Bank, these reforms are crucial in creating financial flexibility to recover from the effects of Code 19.
Following the approval of this loan by the World Bank, the amount of loans received by Pakistan in June has reached 3 3.53 billion. Yesterday, the SBP also received 1 billion from the China Development Bank and 30 300 million from the Bank of China.