Pakistan News

    Bank Loan For House In Pakistan Face

  • World Bank asked to rectify error about loan payable by Pakistan

    ISLAMABAD: Insisting that its external repayment obligations stand at $18 billion for the current year, Pakistan has asked the World Bank (WB) to rectify its ‘error’ that put external obligations at $31bn...

    “The matter has been taken up with the World Bank to rectify the error,” said the finance ministry on Sunday after a meeting presided over by Finance Minister Ishaq Dar...

  • World Bank approves $825m loan for Pakistan infrastructure

    The World Bank has granted Pakistan a $825 million loan to upgrade the energy and public finance sectors in a country which has long struggled with chronic power shortages and poor fiscal management...

    Just over half the loan, $425 million, would be used to modernise the national grid, the World Bank said on Wednesday...

  • Pakistan, World Bank sign loan agreement worth $918 million

    Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh on Tuesday witnessed the signing of three loan agreements worth a total of $918 million with the World Bank...

    Country Director World Bank Patchamuthu Illangovan signed the agreements on behalf of the World Bank while Economic Affairs Division Secretary Noor Ahmed signed the financing agreements on behalf of the Government of Pakistan...

  • UAE’s Ajman Bank says it arranged $275m loan for Pakistan

    DUBAI: UAE-based Ajman Bank arranged a syndicated financing of $275 million for the government of Pakistan in May, the bank said on Monday...

    A number of banks participated in the one-year Islamic loan, which has a Murabaha structure and was solely arranged by Ajman Bank, it said in a statement...

  • World Bank may loan $200m to lessen virus impact on Pakistan’s education

    ISLAMABAD: The World Bank has initiated preparation of a programme to strengthen federal and provincial governments’ institutions, policies and coordination for reducing the impact of external shocks on the education system, and increasing access to quality education in disadvantaged districts of the country, according to reliable sources...

    It is likely that the bank will provide financing of $200 million for the programme...

  • KP govt to get $200m World Bank loan for revenue mobilisation

    PESHAWAR: The World Bank would provide $200 million to Khyber Pakhtunkhwa government to improve revenue mobilisation of the cash-starved province, according to sources...

    Sources said that the proposal was currently awaiting approval of Planning Commission, however, modalities for the loan, which would be spread over five years, were yet to be worked out...

  • World Bank approves $86m loan for improvement of city areas

    ISLAMABAD: The World Bank has approved a soft loan of $86 million for ‘Karachi neighbourhood improvement’ project which will benefit almost one million residents, business owners and commuters by improving living conditions in the Saddar, Korangi and Malir areas of the city...

    This was announced by the World Bank mission in Islamabad on Friday...

  • World Bank approves $188m loan for Guddu Barrage strengthening

    ISLAMABAD: The World Bank approved on Friday a $188 million loan for consolidation of Guddu Barrage, the most strategic component of the Indus Basin irrigation system...

    International Develop­ment Association, the low-interest arm of World Bank, approved the funding to increase the barrage’s lease of life by another 50 years, besides strengthening the Sindh Irrigation Depart­ment’s capacity to operate and manage barrages...

  • World Bank loan to help Sindh improve disaster risk management

    ISLAMABAD: The Sindh government will launch a project during the next financial year with a World Bank loan of $100 million to improve resilience against natural disasters in the province, official sources told Dawn...

    The ‘Sindh Resilience Project’ will envisage improving systems at the provincial government and key agencies for disaster management, with focus on enhancing resilience to hydro-meteorological disasters, such as floods...

  • Court seeks details of Chinese bank’s loan for Orange Line

    LAHORE: The Lahore High Court on Thursday directed the Punjab government to furnish details of loans it obtained from a Chinese bank for multi-billion Orange Line Metro Train project...

    As a division bench resumed hearing several identical petitions against the project on multiple grounds, counsel for civil society, one of the petitioners, argued that the government obtained loans from a Chinese bank on a higher mark-up and without...

  • $100m World Bank loan for Nepal reform plan

    KATHMANDU: The World Bank has approved a $100-million loan to help Nepal accelerate its medium-term reform programme for the financial sector and to reduce the vulnerability of the banking sector and increase its transparency...

    Nepal’s medium-term programme for the financial sector focuses on reforms designed to place the financial sector on a sound foundation for the future, the bank said in a statement...

  • $200m World Bank loan for renewable energy project

    ISLAMABAD: The World Bank has initiated the process to approve a credit of $200 million for increasing the installed generation capacity of renewable energy and enhance its development in Pakistan...

    The project, which will cost $300m, will also receive a loan of $100m from the Green Climate Fund...

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