Pakistan and World Bank (WB) have signed another loan agreement worth up to US$ 304 million.
The US$ 304 million loan is aimed at providing essential financial assistance for the Punjab Resource Improvement and Digital Effectiveness Programme (PRIDE).
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Expressing his views at the signing ceremony on Wednesday, Makhdoom Khusro Bakhtiar – Federal Minister of Economic Affairs stressed upon government’s commitment to enhance fiscal management by supplementing domestic revenues and increasing spending on pro-people development initiatives.
Meanwhile, Najy Benhassine – WB Country Director for Pakistan, reassured World Bank’s continuing support to Pakistan for achieving primary development objectives.
PRIDE initiative is aimed at facilitating Punjab government to enhance its source revenue along with the reliability of resource allocation and access to digital services.
The programme has already proved its effectiveness by creating additional fiscal space of Rs 274 billion by the end of year 2025.
