Islamabad: Punjab and Khyber Pakhtunkhwa (KP) governments will get USD 500 million in loans from the World Bank (WB) for climate-responsive agriculture and public infrastructure projects, news sources reported on November 2.
As per the sources, a loan agreement to this effect was signed by World Bank (WB) Country Director Najy Benhassine and Economic Affairs Division (EAD) Pakistan Secretary Dr Kazim Niaz. A later statement by the WB indicated that USD 200 million has been approved for Punjab while USD 300 million will be granted to the KP government.
As per the news report, the USD 200 million loans from WB will be used by the Punjab government for the following projects:
- Promotion of smart and innovative agricultural practices, including farm water conservation
- Enhancement of equitable access to and productivity of agricultural water
- Improvement of farmers’ incomes, particularly small and medium landholders
- Promotion of sustainable high yield low water intense irrigation systems, and crops
The USD 300 million allocated to KP will be used for the following projects:
- Climate-resilient rural accessibility to schools, health facilities and markets in the province
- Help the KP government in upgrading and rehabilitation of provincial roads, improving the climate resilience of infrastructure, including the raising of embankments and provision of side drains and bridges
- Improvement of culverts, ditches, and vegetation and improvement of road safety infrastructure and equipment in the vicinity of schools, health facilities and marketplaces