{"id":95909,"date":"2023-12-21T12:28:51","date_gmt":"2023-12-21T07:28:51","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=95909"},"modified":"2023-12-21T12:28:52","modified_gmt":"2023-12-21T07:28:52","slug":"world-bank-funds-approval-ensures-pak-safety","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/world-bank-funds-approval-ensures-pak-safety.html","title":{"rendered":"PAK secures World Bank\u2019s approval of USD 350mn funding package"},"content":{"rendered":"\n<p>Islamabad: The World Bank (WB) has given the green light to a USD 350 million package earmarked for Pakistan\u2019s budget financing, as reported by a news source on December 21.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/world-bank-usd-1-6-bn-flood-relief-sindh.html\" target=\"_blank\" rel=\"noreferrer noopener\">World Bank approved USD 1.6 bn for flood relief efforts in Sindh<\/a><\/p>\n\n\n\n<p>According to the details, the World Bank Executive Directors Board unanimously endorsed the USD 350 million financing for the Second Resilient Institutions for Sustainable Economy (RISE-II) operation, as per a press statement released on Wednesday.<\/p>\n\n\n\n<p>This approval, which faced a two-year delay, is attributed to weakened economic fundamentals, the absence of an International Monetary Fund (IMF) umbrella, and uncertainties surrounding upcoming elections. The Washington-based lender proceeded with the board\u2019s approval only after obtaining clarity on these aspects.<\/p>\n\n\n\n<p>The World Bank Country Director for Pakistan Najy Benhassine emphasised the urgency of implementing fiscal and structural reforms to restore macroeconomic balance and lay the groundwork for sustainable growth. He highlighted that RISE-II builds upon earlier reforms in tax, energy, and business climate, aiming to generate additional revenues, enhance expenditure targeting, and promote competition and investment.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/wb-repurposing-usd-300-mn-flood-victims.html\" target=\"_blank\" rel=\"noreferrer noopener\">World Bank announces repurposing USD 300 mn for flood victims<\/a><\/p>\n\n\n\n<p>The World Bank\u2019s approved loans are geared towards improving fiscal management, regulatory frameworks promoting growth and competitiveness, debt transparency and management enhancement, and broadening the tax base while reducing distortions in tax policy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The World Bank (WB) has given the green light to a USD 350 million package earmarked for Pakistan\u2019s budget financing, as reported by a news source on December 21. Read: World Bank approved USD 1.6 bn for flood relief efforts in Sindh According to the details, the World Bank Executive Directors Board unanimously endorsed the USD 350 million financing for the Second Resilient Institutions for Sustainable Economy (RISE-II) operation, as per a press statement released on Wednesday. This approval, which faced a two-year delay, is attributed to weakened economic fundamentals, the absence of an International Monetary Fund (IMF) umbrella, and uncertainties surrounding upcoming elections. The Washington-based lender proceeded with the board\u2019s approval only after obtaining clarity on these aspects. The World Bank Country Director for Pakistan Najy Benhassine emphasised the urgency of implementing fiscal and structural reforms to restore macroeconomic balance and lay the groundwork for sustainable growth. He highlighted that RISE-II builds upon earlier reforms in tax, energy, and business climate, aiming to generate additional revenues, enhance expenditure targeting, and promote competition and investment. Read: World Bank announces repurposing USD 300 mn for flood victims The World Bank\u2019s approved loans are geared towards improving fiscal management, regulatory frameworks&hellip;<\/p>\n","protected":false},"author":88,"featured_media":62276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[57757,57756,21890],"persona":[],"class_list":{"0":"post-95909","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-loan-approval-for-pakistan","9":"tag-wb-news-and-updates","10":"tag-world-bank-wb","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>World Bank&#039;s Funds Approval Ensures PAK Safety - Zameen News<\/title>\n<meta name=\"description\" content=\"World Bank approves USD 350 million budget financing package for Pakistan. 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Read for more update on Pakistan&#039;s economic boost.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/world-bank-funds-approval-ensures-pak-safety.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-21T07:28:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-21T07:28:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/03\/WB.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Muhammad Zohaib Nasir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Zohaib Nasir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"World Bank's Funds Approval Ensures PAK Safety - Zameen News","description":"World Bank approves USD 350 million budget financing package for Pakistan. 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