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World Bank Likely to Offer $500 million for Pakistan's Infrastructure Development - ASHARQ AL-AWSAT English Archive
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ISLAMABAD (SPA)– The World Bank is likely to offer $500 million funding to Pakistan for infrastructure development and poverty alleviation but has expressed its dissatisfaction over the government’s performance to reduce poverty during the last five years, leading English language daily ‘Dawn’ reported.

A World Bank mission that recently visited Pakistan proposed the funding for poverty alleviation.

The bank wants Pakistan government to work out comprehensive programme to improve the infrastructure through the new funding, especially for attracting sizable local and foreign investment. It has stressed the need for reducing poverty level.

Sources said that the World Bank authorities do not agree with the government’s claim of remarkable reduction in poverty and believe that fruits of improved economy, especially during last seven years, have not reached to people.

Meanwhile, the Rome based UN International Fund for Agricultural Development has approved $30 million funding each for livestock support and assets building of the rural population of Pakistan.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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