Pakistan to Get Around $2 Billion from World Bank in FY24

Pakistan is set to get an estimated $2 billion from the World Bank during the current fiscal year, Najy Benhassine, Country Director for the World Bank in Pakistan said Tuesday. Talking to reporters in Islamabad, Benhassine said that to unlock the funds Pakistan will need to do considerable work. He pointed out that during the Executive Board meeting of the Bank, the Board will review two projects related to Pakistan. He pointed out that Pakistan and the World Bank are engaged in projects worth $14.4 billion, from which the remaining balance stands at $7.8 billion. Last week, Caretaker Federal Minister for Finance Dr Shamshad Akhtar had said that the country would get financial assistance from various multilateral development banks once the first review of the Stand-By Arrangement (SBA) is approved by the International Monetary Fund (IMF) Executive Board.