WASHINGTON: Pakistan and the World Bank signed the $500 million Second Fiscally Sustainable and Inclusive Growth DPC (Development Policy Credit) to support Pakistan’s efforts to reinvigorate growth and stabilise the economy.
Pakistan’s Ambassador to the United States Jalil Abbas Jilani and World Bank Vice President for the South Asian Region Annette Dixon signed the accord in Washington, reported The Banker Pakistan.
Speaking on the occasion, Ambassador Jilani said a similar credit agreement of approximately $500m with the World Bank will be signed in September later this year for energy sector reforms.
He said the credit is intended to accelerate Pakistan’s growth, and to help create jobs and economic opportunities for all.
The ambassador said signing of the credit agreement reflects the growing confidence of International donor agencies, including the International Monetary Fund, in Pakistan’s economy.
The IMF has expressed satisfaction over the transparent use of funds by the government to stabilise Pakistan’s economy.