ISLAMABAD: Pakistan government ink huge loan agreement with the World Bankfor development projects.
Pakistan on Tuesday signed loan agreement worth $787 million with the WorldBank to revamp water supply and sewerage system in the country.
Federal Minister for Economic Affairs Hammad Azhar signed the agreementwith the World Bank while its country director in Pakistan PatchamuthuIllangovan was also present on the occasion.
Sources said that $382mn have been allocated for Yellow Line project and $40mn will be spent to revamp water supply in Karachi.
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Earlier on November 22, Federal Minister for Economic Affairs Hammad Azharhad said that the World Bank had restored budgetary support to Pakistanafter more than three years.
