WB approves $450m to eliminate poverty in Pakistan

WB

ISLAMABAD: The World Bank has approved a package worth 450 million dollars to support the government efforts help poverty-stricken people in Pakistan.

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The program aims to raise financial access throughout Pakistan to fifty percent of adults, including twenty-five percent women by 2020. Similarly, in the next three years, it aims to boost private sector credit access to small and medium enterprises to fifteen percent from seven percent in 2015.

Additionally, the Bank will also provide fifty million dollars under Punjab Tourism for Growth Project to strengthen institutions and improve infrastructure to support the tourism sector in the province.

Meanwhile, in a statement World Bank Country Director for Pakistan Illango Patchamuthu acknowledged that Pakistan has made significant progress in the implementation of economic reforms.