World Bank approves $900 mn aid to Pakistan

Posted By: Staff
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Washington Jun 5: The World Bank (WB) on Thursday, Jun 4 approved an aid package of 900 million dollars for Pakistan. The aid which is given as a loan will go into educational projects in Pakistan's Punjab and Sindh provinces and support a poverty-fighting fund for local community groups.

The WB revealed that the 650 million dollars will go into the education sector reform projects which were aimed at getting more children to go to school and improve the quality of schooling.

The other 250 million dollars fund goes into Third Pakistan Poverty Alleviation Fund, which WB has supported since 2000. This is in an effort to support community groups with financing, micro-credit loans and skills training for the poor.

The aid comes in the time when Pakistan is struggling with balance of payments crisis and the ongoing fight with the Taliban in the North Western Frontier Province (NWFP) of the country that has left about 2.5 million people homeless.

OneIndia News

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