World Bank approves $149.7m for two projects in Pakistan

ISLAMABAD: The World Bank has approved 149.7 million dollars in financing for Pakistan to support two projects, the international financial institution said in a statement.

According to the details, the funds were approved to support projects related to the digital economy and improved flood resilience.

The allocated funding of 78 million dollars for the Digital Economy Enhancement Project is expected to enhance financial management through technology-driven solutions and data-driven decision-making. The investment in the digital economy is also likely to streamline public services, increase transparency, and foster economic growth.

Similarly, the 71.7 million dollar allocation for the Sindh Barrages Improvement Project is likely to ensure greater flood resilience.

Earlier, the World Bank approved $100 million last year for the Punjab Family Planning Programme to increase the utilization of family planning services in Punjab, which is home to more than half of the country’s population.

The program will provide timely access to quality family planning services free of charge, a handout from the lending institution said. The bank said it would also institutionalize quality of care across the family planning services delivery system.

According to Najy Benhassine, the World Bank’s Country Director for Pakistan, “this significant program aims to achieve universal access to reproductive healthcare and to raise the usage of family planning methods in Punjab to 60% by 2030.”