Pakistan, WB sign agreement for poverty reduction: Daily Times

ISLAMABAD: The government of Pakistan and the World Bank signed an agreement at Washington for IDA credit of SDR 321.3 million (US$ 500 million approximately) for Poverty Reduction and Economic Support Operation (PRESO). According to an official statement issued here the credit would support government of Pakistan’s programme to regain and maintain economic stability, bring the economy back on track to a higher growth path while protecting the poor and the vulnerable from adverse shocks. PRESO is a single-tranche Development Policy Credit. The funds will be utilised by the Government of Pakistan for the following key policy areas: Regaining and maintaining macroeconomic stability through increased tax revenue mobilisation, adjustment of fuel prices and power tariffs, improved efficiency of public spending, and strengthened government debt management.

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