World Bank Secures $700 Million for Pakistan's Economic Stability

The World Bank has approved $700 million to support Pakistan's macroeconomic stability and service delivery. The funds are part of a larger initiative, potentially totalling $1.35 billion under the Public Resources for Inclusive Development program. This funding follows a recent $47.9 million grant for education in Punjab.

The World Bank announced Friday it will provide $700 million to bolster Pakistan's economic stability and improve service delivery. This approval is part of a broader, multi-year initiative known as the Public Resources for Inclusive Development – Multiphase Programmatic Approach (PRID-MPA), which may ultimately furnish up to $1.35 billion in financing.

Specifically, $600 million will be allocated to federal programs, while the remaining $100 million is set to aid provincial schemes in Sindh. This financial boost follows a $47.9 million World Bank grant August to enhance primary education in Punjab.

However, there's potential for regional contention over international funding for Pakistan, particularly following a report from May indicating India's intention to contest World Bank support for its neighboring country.

(With inputs from agencies.)