Shamshad Acknowledges World Bank’s Ongoing Commitment to Pakistan’s Development
Caretaker Finance Minister Dr. Shamshad Akhtar Commends World Bank’s Sustained Assistance to Pakistan
In a meeting held on Monday in Islamabad, Dr. Shamshad Akhtar, the Caretaker Federal Minister for Finance, praised the ongoing support provided by the World Bank to Pakistan. The discussion with Country Director Najy Binhassine and his team focused on the approval and finalization of financing for two World Bank-funded operations in Pakistan.
These include additional financing of 250 million dollars for an ongoing World Bank funded program titled Crisis-Resilient Social Protection Program and Resilient and Accessible Microfinance Program worth 175 million dollars.
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The World Bank team apprised the Finance Minister about the broad contours of the RAM program, its funding volume and objectives.The meeting was informed that microfinance sector of Pakistan has shown resilience and continued to grow despite multiple exogenous shocks.
The proposed program will help to not only overcome the constraints of microfinance sector but also ensure more resilient, inclusive and growing microfinance sector in Pakistan. Finance Minister Dr Shamshad Akhtar appreciating the World Bank’s continuous support for Pakistan expressed hope that it would continue cooperation in future also.
