{"id":51618,"date":"2019-04-23T17:39:14","date_gmt":"2019-04-23T17:39:14","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=51618"},"modified":"2020-01-30T12:43:47","modified_gmt":"2020-01-30T12:43:47","slug":"govt-seeks-wbs-approval-usd-1-5bn-project-financing-package","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-seeks-wbs-approval-usd-1-5bn-project-financing-package.html","title":{"rendered":"Govt seeks WB\u2019s approval for USD 1.5bn project financing package"},"content":{"rendered":"<p>Islamabad: The federal government is seeking a quick approval from the World Bank (WB) for a project financing package worth USD 1.5 billion, a news source reported. The government expects the international agency to release the funds before the end of the current fiscal year on June 30, 2019.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/wb-to-fund-projects-worth-usd-2-billion.html\" target=\"_blank\" rel=\"noopener noreferrer\">WB to fund projects worth USD 2 billion<\/a><\/p>\n<p>Adviser to PM on Finance &amp; Revenue Dr Abdul Hafeez Shaikh met with the WB Country Director Patchamuthu Illangovan to discuss the projects underway with the help of the bank\u2019s funds. He informed the director that the government had \u2018almost cleared\u2019 all WB-funded projects, which had earlier faced delays due to the country\u2019s political transition.<\/p>\n<p>Shaikh also told the director that the government plans to speed-up the process of these approvals in order to ensure the timely release of the required funds. He then stressed on the country\u2019s need for a quick sanction &#8211; before the end of the current fiscal year.<\/p>\n<p>During the meeting, the officials present revealed that the Central Development Working Project (CDWP) had given clearance to several WB-funded projects within the last week. These include:<\/p>\n<ul>\n<li>The Sindh Bus Rapid Transit (BRT) project &#8211; worth PKR 78 billion<\/li>\n<li>A Federal Board of Revenue (FBR) strengthening &amp; reform scheme &#8211; worth USD 400 million<\/li>\n<li>The Khyber-Pakhtunkhwa (KP) Hydropower project\u2019s development &#8211; worth PKR 533 million<\/li>\n<li>The Balakot Hydropower project &#8211; worth PKR 85 billion<\/li>\n<\/ul>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-informs-wb-tax-reforms.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR informs WB about its tax reforms<\/a><\/p>\n<p>CDWP had also approved a concept paper for the Yellow Line Bus Rapid for Karachi &#8211; worth PKR 65 billion. The authority, along with Executive Committee of the National Economic Council (Ecnec), has now cleared a total of 20 projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government is seeking a quick approval from the World Bank (WB) for a project financing package worth USD 1.5 billion, a news source reported. The government expects the international agency to release the funds before the end of the current fiscal year on June 30, 2019. Read:\u00a0WB to fund projects worth USD 2 billion Adviser to PM on Finance &amp; Revenue Dr Abdul Hafeez Shaikh met with the WB Country Director Patchamuthu Illangovan to discuss the projects underway with the help of the bank\u2019s funds. He informed the director that the government had \u2018almost cleared\u2019 all WB-funded projects, which had earlier faced delays due to the country\u2019s political transition. Shaikh also told the director that the government plans to speed-up the process of these approvals in order to ensure the timely release of the required funds. He then stressed on the country\u2019s need for a quick sanction &#8211; before the end of the current fiscal year. During the meeting, the officials present revealed that the Central Development Working Project (CDWP) had given clearance to several WB-funded projects within the last week. These include: The Sindh Bus Rapid Transit (BRT) project &#8211; worth PKR 78 billion A Federal&hellip;<\/p>\n","protected":false},"author":68,"featured_media":34938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[11421],"persona":[],"class_list":{"0":"post-51618","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-govt-seeks-wbs-approval-for-usd-1-5bn-project-financing-package"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt seeks WB\u2019s approval for USD 1.5bn project financing package - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal government is seeking a quick approval from the World Bank (WB) for a project financing package worth USD 1.5 billion, a news\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-seeks-wbs-approval-usd-1-5bn-project-financing-package.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt seeks WB\u2019s approval for USD 1.5bn project financing package - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The federal government is seeking a quick approval from the World Bank (WB) for a project financing package worth USD 1.5 billion, a news\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-seeks-wbs-approval-usd-1-5bn-project-financing-package.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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