The World Bank Thursday approved a four-year 6,2 billion US dollar (ca. 37 milliarder DKR) lending program for Pakistan that seeks to boost tax revenues, make energy supplies more reliable and improve conditions in conflict-hit areas.
While the lending strategy from 2010 to 2013 is slightly less than the 6,5 billion committed during the last four-year period, the program hones in on specific trouble spots in Pakistan.
Pakistan is battling al Qaeda-linked militants, which has uprooted nearly three million people since 2009 and put an extra burden on the country’s struggling economy.
– This strategy recognises that to steer Pakistan back on a path of broad-based growth, create jobs, and reduce poverty, a prolonged period of macroeconomic stability, financial discipline and sound policies is required, World Bank Country Director for Pakistan Rachid Benmessaoud said.
Benmessaoud’s remark came after a meeting of the World Bank Board of Directors to discuss a new Country Partnership Strategy (CPS) for Pakistan.
– The World Bank Group will therefore focus on the achievement of those outcomes that have the potential to be truly transformational. This means successfully addressing tax policy and administration and expanding power provisions,” he said.
The south Asian nation’s economy is hit by violence and a severe energy crisis. An acute shortage of power has crippled its factory output.
International Finance Corp., a World Bank arm that provides funds to the private sector, plans to invest about 1,5 billion dollar during the same period in Pakistan, the agency said in a statement.
Kilde: www.worldbank.org
