Pakistan government inks huge loan agreement with the World Bank for development projects

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Pakistan government inks huge loan agreement with the World Bank for development projects

ISLAMABAD: Pakistan government ink huge loan agreement with the World Bank for development projects.

Pakistan on Tuesday signed loan agreement worth $787 million with the World Bank to revamp water supply and sewerage system in the country.

Federal Minister for Economic Affairs Hammad Azhar signed the agreement with the World Bank while its country director in Pakistan Patchamuthu Illangovan was also present on the occasion.

Sources said that $382mn have been allocated for Yellow Line project and $40 mn will be spent to revamp water supply in Karachi.

$70mn have been allocated for Khyber Pakhtunkhwa integrated tourism project

Earlier on November 22, Federal Minister for Economic Affairs Hammad Azhar had said that the World Bank had restored budgetary support to Pakistan after more than three years.

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