Washington DC, 12 August 2022 (TDI): The Ambassador of Pakistan to the United States (US), Masood Khan met the Director of the World Bank Illango Patchamuthu, yesterday.
Ambassador Masood Khan thanked the Director for World Bank’s vital contributions to the development of the country. World Bank has assisted Pakistan in many developmental projects.
The meeting focused on energy, education, and water advancement. Masood Khan apprised Illango Patchamuthu about the country’s economic standpoint.
Met Acting VP Illango Patchamuthu @Illango_WB @WorldBank. Thanked him for the World Bank’s support OF Pakistan 🇵🇰. Briefed him on Pakistan’s economic outlook and prospects of collaboration in THE energy, water, and education sectors. #PakUSAt75 pic.twitter.com/6tr2EeEVCC
— Masood Khan (@Masood__Khan) August 12, 2022
World Bank Assistance
After the recent Covid-19 crisis, World Bank contributed to the restoration of Pakistan. The economic burden faced by Pakistan during the recovery process was large. World Bank approved numerous loans for Pakistan, to make conditions better.
Mass vaccination campaigns, vaccination imports, and the generation of effective fiscal policies required economic assistance. For this purpose, the World Bank has remained Pakistan’s top contributor.
Also read: World Bank Aid for Kashmir
Previously in 2021, The World Bank approved a $195 million fund for the improvement of the development sector. Good electricity supply in the country was ensured. Multiple steps were taken to increase the electricity supply to consumers.
Pakistan and World Bank
Pakistan has been a member of the World Bank since 1950. Since then the Bank approved nearly 40 billion in aid to Pakistan. The aid improved energy, water, and developmental sectors.
Furthermore, the World Bank ensured agricultural development in the country. The World Bank promised its support for Farmers in the Punjab region. Also, it has approved $200 million for the transformation of the country’s agricultural sector.
Extreme environmental conditions have impacted the agricultural sector to a great extent. For its restoration, the Bank guaranteed technological help and sophisticated machinery.
Also read: World Bank aid for Covid-19
Moreover, in recent years, such conditions made Pakistan’s agricultural sector, suffer great losses. The losses included loss of livestock, food shortages, droughts, regional irrigation inefficiency, and much more.
The launch of recent projects benefited the ruler communities, the farmers, and locals in the province.
World Bank and Kashmir
The World Bank has contributed to the development of infrastructure in the region. The programs engaged Kashmiri locals to participate in planning, and project management, and improve their decision-making.
