Dr. Shamshad Akhtar, Pakistan's Caretaker Federal Minister for Finance, praised the World Bank for its steadfast support following a pivotal meeting in Islamabad on Monday. This meeting, involving World Bank Country Director Najy Binhassine and his team, was crucial for advancing Pakistan's financial projects supported by the World Bank.
The discussion centered on securing additional financing for two key World Bank-funded projects in Pakistan. The first project is an enhancement of the existing Crisis-Resilient Social Protection Program, for which an additional $250 million has been allocated. This program plays a vital role in supporting vulnerable populations during economic challenges.
The second project is the Resilient and Accessible Microfinance Program (RAM), set to receive $175 million. The World Bank team outlined the RAM program’s goals and funding details, emphasizing its significance for Pakistan’s financial sector.
Despite facing various global challenges, Pakistan's microfinance sector has shown commendable growth and resilience. The RAM program aims to further strengthen this sector, making it more robust, inclusive, and expansive.
Dr. Shamshad Akhtar, appreciating the World Bank’s continuous involvement, expressed hope for ongoing and enhanced cooperation in the future. This partnership is expected to significantly contribute to Pakistan’s economic stability and growth.
