World Bank To Provide $200 Million Credit Facilities for Housing Sector

The Federal Minister for Finance and Revenue, Shaukat Tarin, chaired a meeting at the Finance Division with Chairman Naya Pakistan Housing & Development Authority and Country Director World Bank (WB) Mr. Najy Benhassine to consider the possibility of providing additional funds for housing finance in Pakistan. SAPM on Finance and Revenue was also present in the meeting. The Country Director, WB shared World Bank’s proposed credit facilities for various interventions in the housing sector totaling $200m. He stated that World Bank would support the efforts of the Government to boost the housing sector, especially for low-cost housing. The Finance Minister appreciated the support of the World Bank and emphasized the importance of the housing sector in reviving economic growth. The Finance Minister underlined that the housing sector was the priority sector of the Government and asked all the relevant officials to finalize all the technical details and complete the relevant actions relating to proposed World Bank funding within the next few days.