ISLAMABAD-World Bank reiterated on Saturday to allocate $2 billion funds from existing World Bank financed projects for emergency operations in flood affected areas to support Pakistan.
World Bank has assured its support for the economy as well as floods affected areas. Federal Minister for Finance and Revenue Ishaq Dar held a meeting with Najy Benhassine, Country Director, World Bank and his team at Finance Division.
Finance minister welcomed Najy Benhassine and his team and shared economic challenges that the country is currently facing. He said that the present government is cognizant of these issues and is taking pragmatic steps to resolve bottlenecks to growth. The present government is committed to set the economy on sustainable and inclusive growth path. He also informed about the devastations caused by the recent floods in the country.
Najy Benhassine extended felicitations to the finance minister on assuming the charge of the office and briefed on existing programs and future cooperation of the World Bank for Pakistan. He informed the finance minister that the bank is allocating $ 2 billion funds from existing World Bank financed projects for emergency operations in flood affected areas to support Pakistan. He further informed that around $ 1.5 billion funds would be mobilized this year due to emergency situation.
Finance Minister Senator Ishaq Dar appreciated the World Bank for being a source of support in pursuing reform agenda and implementing various development projects for the country. He further said that Pakistan values the financial and technical support provided by the World Bank for the institutional reforms and economic development of the country. Finance Minister assured Najy Benhassine and his team of meeting prior actions for timely completion of programmes and thanked them for their continuous support and facilitation.
Meanwhile, in other development, Dr Christian Turner, British High Commissioner, called on Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar at Finance Division. Federal minister extended his warm welcome to the British high commissioner and exchanged views on matters of common interest. He also briefed the British high commissioner about devastations caused by the recent floods in Pakistan.
The federal finance minister underscored that Pakistan had long historic ties with the United Kingdom and relations between the two countries needed to be further expended for the mutual benefits of the two sides. The finance minister briefed the envoy about economic agenda and priorities of the government and said that present government aims to bring about economic and fiscal stability leading to economic recovery and growth.
Dr. Christian Turner, British High Commissioner, extended his felicitations to the minister on assuming his new responsibilities. He expressed sympathy on the destruction caused by the floods and said that the UK stands with Pakistan in this difficult time and apprised on the humanitarian support provided by the UK Govt to Pakistan for flood relief. He further extended full support of the British government and British people for the government in Pakistan.
