USD 450 MILLION FINANCIAL ASSISTANCE TO PAKISTAN APPROVED BY WORLD BANK

Islamabad: The World Bank on Thursday approved a financial assistance worth USD 450 million to Pakistan to support its efforts to help the poor and most vulnerable

The Finance for Growth Development Policy is a policy credit of USD 300 million that would assist Pakistan’s efforts in promoting an inclusive and transparent financial sector.

Its mission to raise financial access throughout Pakistan to 50 per cent of adults, including 25 per cent women, by 2020, the Associated Press of Pakistan (APP) reported.

It said that in the next three years, FGDP aims to boost private sector credit access to small and medium enterprises to 15 per cent from 7 per cent in 2015.