WB okays $300m for Pakistan’s projects: The News

KARACHI: The World Bank has approved two projects worth $300 million to help Pakistan strengthen its social safety nets and improve higher education.

While fighting a Taliban insurgency in the northwest, Pakistan is struggling with a weak economy and over a third of its people live in poverty.

The World Bank said $200 million was being allocated for the Pakistan Social Safety Nets Development Policy Credit to establish an effective framework.

“Pakistani households are highly vulnerable to income shocks, and existing social assistance programmes cover only a very small fraction of the poor,” Yusupha Crookes, the country director for Pakistan, said in a statement received on Friday.

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