WASHINGTON DC: The World Bank has granted approval for a $350 million loan to Pakistan. This financial support falls under the Rise to Program, aimed at enhancing competitiveness in Pakistani financial management and fostering sustainable and inclusive economic development.
Highlighting the urgency of financial reforms in Pakistan, the World Bank emphasized the critical need for these measures. Naji bin Hussain, World Bank Country Director, explained that the Rise to Program represents a significant milestone in tax, energy, business, and climate reforms, ultimately geared towards boosting revenue.
Bin Hussain further detailed that the program’s objectives include improving spending targets, enhancing competitiveness, and promoting investment. Additionally, the Rise to Program is poised to contribute to more effective management of Pakistan’s power sector.
