WB promises crisis-hit Pak 1.4 billion dollars this year

October 13th, 2008 - 1:00 pm ICT by ANI  

Washington , Oct 13 (ANI): In a bid to expedite investment projects and budgetary lending in economic-crisis-hit Pakistan , the World Bank is learnt to have pledged to provide 1.4 billion-dollar support for the country in the current year.

The World Bank made the offer on Saturday as Pakistan s Adviser on Finance Shaukat Tareen met with the WBs Managing Director Ngozi Okonjo-Iweala, reported the Daily Times.

The amount includes 600 million dollars for investment portfolio and 800 million dollars for budget support as the macroeconomic stabilisation programme moves forward.

Meanwhile, UK Department for International Development (DFID) has also doubled its economic assistance for Pakistan to 586 million pounds. DFID Permanent Secretary Minouche Shafik told a Pakistan delegation that the department planned to expand its development work to FATA and Balochistan.

Tareen also had productive meetings with German Minister for Economic Co-operation and Development Wieczorek-Zeul, US Undersecretary of State for Economic, Energy and Agricultural Affairs Reuben Jeffrey and Assistant Secretary of State for Economic, Energy and Business Affairs Daniel Sullivan. (ANI)

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