ISLAMABAD: Agreements worth $ 305 million were signed with the World Bank (WB) here on Friday to support projects in the agriculture sector in Punjab and to improve the nutrition status of children as well as women in Khyber Pakhtunkhwa.
Strengthening Markets for Agriculture and Rural Transformation (SMART) in Punjab Programme received $ 300 million loan from WB. The SMART Punjab programme is aimed to help the government of Punjab to promote transformational change in the crop and livestock subsectors by focusing on activities contributing to three results areas; increased on-farm productivity and value of crops and livestock; increased value addition and competitiveness of crops and livestock; and enhanced resilience of smallholder farmers to climate change and natural disasters. Each results area involves a specific combination of policy reforms, institutional strengthening and public investments.
Moreover, the SMART programme will receive $ 1290 million from the government of Punjab and $ 300 million from World Bank as a loan.
Additional financing in shape of a grant of $ 5 million was also signed to Khyber Pakhtunkhwa for the Enhanced Nutrition for Mothers and Children Project. The objective of the grant is to scale-up nutrition intervention in the province of Khyber Pakhtunkhwa to improve the nutritional status of children under two years of age, as well as pregnant and lactating women.
Economic Affairs Division (EAD) Secretary Arif Ahmed Khan signed the loan and grant agreements on behalf of the government of Pakistan while representatives of the government of Punjab and government of Khyber Pakhtunkhwa signed their respective project agreements. World Bank Country Director Patchamuthu Illangovan signed the loan and grant agreements and the project agreements on behalf of World Bank.
EAD secretary thanked the World Bank for extending its continuous support to the government of Pakistan in its efforts to achieve sustainable economic development in the country.
