ISLAMABAD-World Bank’s Regional Vice president for South Asia, Martin Raiser has stated that the financial institution has a big portfolio in Pakistan because the financial institution plans to offer flood associated help of up to $ 1.7 billion via current and new projects.
World Bank’s Regional Vice president for South Asia, Martin Raiser together with a delegation known as on Federal Minister for Power Engr Khurram Dastgir Khan Thursday. Minister apprised the vp approximately the extraordinary destruction because of floods in Pakistan. He briefed at the devastation and accompanying monetary distress of the people.
He in addition highlighted how the untiring efforts of the Ministry and Government of Pakistan helped repair energy in maximum of the flood affected areas. Minister confident the World Bank that gift authorities is devoted to reform the power region and growth the recoveries collectively with bridging the inefficiencies. Martin expressed his deep remorse at the catastrophic floods and coined that the reason of his go to is to get right of entry to the state of affairs on ground.
He in addition remarked that World Bank has a big portfolio in Pakistan. WB plans to offer flood associated help of up to $1.7 billion via current and new projects. This might be in shape of strengthening of social protection programs, new emergency operations to assist rehabilitate, long time resilience efforts. UN leader warns Ukraine headed to ‘limitless cycle of horror and bloodshed’ “Pakistan has one in every of the biggest power portfolio of World Bank everywhere withinside the world”, stated Vice President.
He delivered that Pakistan’s coverage shift closer to renewable is the step withinside the proper direction. This a wonderful possibility for Pakistan to shift its power matrix to renewable. He recounseled the minister for taking the proper steps in time period of tariff modifications no matter the political cost, as power region is macro vital for country’s monetary stability.
The World Bank delegation protected Najy Benhassine, Country Director, Gailius J. Draugelis, Operations Manager, Teuta Kacaniku, Program Leader, Zeeshan Ahmed Sheikh, IFC Country manager, Ms. Ewa Sobczynska, Special Assistant to Vice President.a