World Bank, Government Sign $ 304 Million Loan Agreement – Journal


ISLAMABAD: The World Bank on Wednesday signed an agreement with Pakistan for a loan of $ 304 million for the Punjab Resource Improvement and Digital Efficiency Program (PRIDE) to the Economic Affairs Division.

The program aims to help the government of the Punjab to increase its revenues and improve the reliability of resource allocation and access to digital services for people and businesses in the province.

PRIDE’s interventions would focus on three difficult areas, those of fiscal risk management, revenue mobilization and expenditure management through better use of information systems, officials said.

The Secretary of the Economic Affairs Division, Noor Ahmed, signed the agreement on behalf of the government of Pakistan while the representative of the government of Punjab signed the operational agreement.

World Bank Country Director Najy Benhassine signed the agreement on behalf of the World Bank.

Speaking on this occasion, Minister of Economic Affairs Makhdoom Khusro Bakhtiar reiterated the government’s commitment to improve budget management by increasing domestic revenue and increasing spending on development projects in favor of the population.

Posted in Dawn, December 17, 2020

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