World Bank to Provide $200Mn Credit Facilities for Housing Sector
In order to discuss the potential for providing additional funds for housing finance in Pakistan, the Federal Minister for Finance and Revenue, Shaukat Tarin, presided over a meeting at the Finance Division with Chairman Naya Pakistan Housing & Development Authority and Country Director World Bank (WB), Mr. Najy Benhassine.
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The World Bank’s Country Director presented the $200 million worth of credit facilities that were suggested by the World Bank for various housing-related actions. He said that the World Bank would aid the government’s initiatives to expand the housing market, particularly for affordable housing.
The finance minister expressed gratitude to the World Bank for its assistance and stressed the role that the housing market plays in recovering economic growth.
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The Finance Minister emphasised that the housing sector was the government’s top priority and he gave everyone in authority the go-ahead to finalise all the technical aspects and finish all the necessary paperwork for the proposed World Bank funding within the next few days.
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