Pakistan to Get $8.7 Billion Loan From World Bank Over Next 5 Years

The World Bank has committed to providing a loan of $8.7 billion to Pakistan over the next five years to support various development initiatives, according to official documents seen by ProPakistani. This financing will be utilized for 58 projects, with a total estimated cost of $14.8 billion. So far, Pakistan has received $6.16 billion from the World Bank. The additional $8.7 billion in loans will be disbursed by 2029. This includes $1 billion in financing for Phase-I of the Dasu Hydropower Project, with $588.4 million allocated specifically for the project’s first stage and $700 million earmarked for its transmission line project. An amount of $500 million each for the Sindh Flood Emergency Rehabilitation Project and a housing project in Sindh province. The Khyber Pass Economic Corridor Project is expected to receive $460 million, while $450 million has been earmarked for the KP Hydropower & Renewable Energy Development Project. Additionally, the Pakistan Raises Revenue Program will get $400 million, the document showed. Meanwhile, $400 million has been dedicated to Higher Education Development, and $440 million for a water supply project in rural areas of Punjab. The World Bank will provide $390 million for the Tarbela 5th Extension Hydropower Project, $300 million for Sindh Disaster Resilience Improvement, and $425 million for the National Transmission Modernization Project (NTMP). The Karachi Solid Waste Emergency project will get $100 million in funding from the crisis lender. The plan also includes reforms in the Federal Board of Revenue (FBR), as well as funding for the Punjab Human Capital Project and other significant initiatives.