The World Bank has approved $700 million in new financing to support Pakistan’s efforts to stabilise its economy and strengthen public service delivery, marking a significant boost to the country’s reform agenda.
The funding will be channelled through the Public Resources for Inclusive Development – Multiphase Programmatic Approach (PRID-MPA), a nationwide initiative designed to back fiscal and institutional reforms at both federal and provincial levels. The programme focuses on improving domestic revenue mobilisation and ensuring public funds are used more efficiently and transparently. Overall, the PRID-MPA framework allows for total financing of up to $1.35 billion over multiple phases.
Under the newly approved package, $600 million will support federal-level reforms, while $100 million is earmarked for initiatives in Sindh province, targeting improvements in revenue systems and public service delivery.
Bolormaa Amgaabazar, the World Bank’s country director for Pakistan, said sustainable and inclusive growth depends on Pakistan’s ability to generate more domestic resources and manage them effectively. She stressed that stronger fiscal governance is essential to delivering tangible benefits for citizens and building long-term economic resilience.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 3rd of September, covering the latest developments.
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
Southern Chinese provinces were bracing for more torrential rain on Friday after Typhoon Saudel triggered severe flooding, swamping vehicles, collapsing at least one building and forcing mass evacuations.
President Donald Trump is leaving more than a paper trail from his time in office. The U.S. is now minting commemorative $1 coins for America’s 250th anniversary, featuring a portrait of the sitting president.
Pacific Island leaders expressed concern about China's Pacific missile test at their annual summit, though Nauru formally dissented, in a meeting largely overshadowed by Beijing's objections to Taiwan's presence.
China’s southern coastal provinces of Fujian and Guangdong are bracing for more torrential rain after Typhoon Saudel triggered widespread flooding, swept away vehicles and caused a three-storey building to collapse.
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