Five sectors identified for WB's 10-year framework

ISLAMABAD:

The National Assembly Standing Committee on Economic Affairs was informed on Thursday that Pakistan was the first country to sign a 10-year framework with the World Bank, for which the government identified five sectors to work in.

The meeting discussed plan to rebuild houses in the flood-affected areas and the registration of NGOs in the country.

The economic affairs ministry informed the committee that 10,000 houses would be completed for flood-affected people by June 30. The ministry officials said that the list of the affected people and the survey had been prepared transparently with the assistance of the army and other agencies.

Committee member Akhtar Bibi expressed reservations that the list included people who were not affected by the floods. The officials said that the list of 284,000 affected people was prepared for the construction of houses. The list was made with utmost transparency after the survey, they added.

The Economic Affairs secretary told the committee that the previous framework with the World Bank ended in 2021 and now the Washington-based lender had been was asked to make a framework for 10 years. "We have apprised the World Bank of five sectors in which we will work," he said.

"Pakistan is the first country with which the World Bank has made a 10-year Country Partnership Framework. Actually, it is a programme of $40 billion. The IFC will also give $20 billion in 10 years, he said. "The entire loan will be given to Pakistan at 6% interest rate."