Pakistan’s Historic World Bank Borrowing Spree
ISLAMABAD: Pakistan has emerged as the largest recipient of funds from the World Bank.
As per a report, in 2023, Pakistan secured a loan of $2.03 billion through the International Development Association program, with an additional $1.07 billion allocated for assisting flood victims through IDA.
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The report indicates that the aid aimed at helping flood victims encompassed housing and agriculture support, as well as contributions to the education and healthcare sectors. Moreover, Pakistan received a $1 billion allocation through IDA to bolster its budget.
Furthermore, the report highlights the launch of a $200 million program in Punjab to address climate change concerns.