World Bank Supports $400 Million for KP
Khyber Pakhtunkhwa (KP) and the World Bank (WB) have agreed to a new loan of $400 million for staffing and financial challenges in the health and education sectors.
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The World Bank’s Board of Executive Directors approved the loan under the KP Spending Effectively for Enhanced Development (SPEED) programme, which, according to a report by a local media outlet, would aid the provincial government in improving the way it manages public resources and plans its budget in order to maintain investments in human capital in healthcare and education.
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The $400 million loan, according to the World Bank, will increase availability of adequate teaching staff in at least 45% of the province’s primary, middle, and high schools, especially for girls’ schools, and improve predictability of resources to provide access to medicine in primary healthcare facilities, including maternal and neonatal clinics for women across the province.
The minister praised the World Bank for its crucial contributions to Pakistan’s growth of its human capital over the years and its strengthening of institutional reforms and service delivery. He was grateful for the World Bank’s prompt and effective assistance in promoting economic recovery during the Covid-19 pandemic.
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Tarin reaffirmed the government’s unwavering commitment to using a collaborative process to achieve macroeconomic stability and long-term economic growth.
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