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Home Business & Stock

World Bank approves $236 million grant for Pakistan

MM News Staff by MM News Staff
June 24, 2020
Reading Time: 2 mins read
ISLAMABAD: The World Bank has approved a $236 million grant for Pakistan as part of efforts to enhance learning and healthcare and address the threat of COVID-19.
The Board of Executive Directors of the World Bank has approved the grant and credits to support Pakistan’s efforts. The Khyber Pakhtunkhwa Human Capital Investment Project ($200 million) and Balochistan Human Capital Investment Project ($36 million) will improve public services in education and health.
According to the statement released by the World Bank, the projects aim to increase the productive capacity of the workforce to bolster future economic growth in Balochistan and Khyber Pakhtunkhwa.
“Education and healthcare are at the heart of Pakistan’s vision for inclusive growth to enable its people to reach their greatest potential,” said Illango Patchamuthu, World Bank Country Director for Pakistan.
These investments will help address barriers to accessing education and health services, particularly among low-income, vulnerable communities, where utilization of essential health services, especially primary care, and school enrollment rates are lower.
The World Bank said that in Khyber Pakhtunkhwa, the project will reach 25 percent of the population and help the government increase the availability, utilization, and quality of healthcare services in areas most affected by the pandemic.
Education activities focus on learning opportunities for children at the primary and secondary school levels, particularly for girls and women, and take into account disruptions resulting from the coronavirus.

Read more: World Bank to provide $188 million for climate resilience initiatives

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