World Bank approved big loan programme for Pakistan in fight against Novel Coronavirus

Shares
World Bank approved big loan programme for Pakistan in fight against Novel Coronavirus

ISLAMABAD - As Pakistan continues to suffer through many challenges due to Coronavirus outbreak, The World Bank has approved a $500mn loan programme for Pakistan.

The World Bank aims to provide best quality education and healthcare to children in Pakistan as well as to provide better opportunities for women.

The Securing Human Investments to Foster Transformation (SHIFT) programme will support Pakistan’s COVID-19 situation and deal with the emergency response.

The initiative will support greater coordination between provinces and federal authorities to immunize millions of children and reduce their risks of contracting polio and other diseases, said the World Bank.

“The global COVID-19 pandemic is impacting day-to-day life in Pakistan – not solely from economic disruptions but also additional stress on public services that jeopardise human capital accumulation,” said World Bank Country Director for Pakistan Illango Patchamuthu.

“This programme underscores the criticality of universal healthcare and social protection services that are durable to exogenous shocks such as Pakistan is facing now.”

According to the World Bank, the SHIFT supports three policy reforms aimed at improving social safety-net programmes.