World Bank Pledges USD1.4 Billion to Pakistan

Cash-strapped Pakistan will receive USD1.4 billion from the World Bank this year to speed up investment projects and budgetary lending for the country. Of the amount, USD600 million will be allocated to investments while the rest will be used for budget support and the country’s macroeconomic stabilization program. The U.K. Department for International Development also doubled its economic aid to more than USD1 billion for Pakistan. (“WB promises crisis-hit Pak 1.4 billion dollars this year” - Asian News International, Oct. 13, 2008)