Islamabad: The World Bank has approved a mid- term review to support social sector development for Pakistan in partnership with International Finance Corporation (IFC). According to Radio Pakistan, the World Bank will provide assistance for improvement in energy sector, service delivery and enhancing capability of institutions.
The mid-term strategy is in line with Pakistan’s Vision 2025 which includes economic reforms, power sector reforms and sustainable solutions to financial issues. The World Bank and IFC also decided to increase financing by $13.3b dollars for various sectors over the next three years.
The World Bank and IFC are extending support for improvement of agriculture sector in Punjab, urban development in Karachi and for uplift of living standard of people in Khyber Pakhtunkhwa and Balochistan.