Why the World Bank has approved $236 million in grants to Pakistan?

The World Bank’s Executive Board approved $ 236 million in grants and loans to support Pakistan’s efforts to improve learning and health and to address the threat of COVID-19, which threatens l accumulation of human capital.

The Khyber Pakhtunkhwa Human Investment Project ($ 200 million) and the Balochistan Investment Investment Project ($ 36 million) will improve public services in education and health, which are the cornerstones of human capital accumulation, the World Bank said in a statement.

The projects aim to increase the production capacity of labor to promote economic growth in Balochistan and Khiber Pakhtunkhva.

Education and health are at the heart of Pakistan’s vision for inclusive growth so that people can reach their full potential,” said Illango Patchamuthu, World Bank director for Pakistan.

Human capital is an initial investment for children and families. The COVID-19 epidemic threatens to limit the accumulation of human capital in Pakistan and must take decisive action to reduce the deficit through targeted interventions currently supported by both projects.

These investments will help remove barriers to accessing education and health services in essential health services, especially in low-income and vulnerable communities where primary health care and school enrollment rates are low.

According to the World Bank, the Khyber Pakhtunkhwa project will help improve the availability, access and quality of medical services in areas most affected by the epidemic and reach 2% of the population. Educational activities focus on teaching opportunities for primary and secondary school children, especially girls and women, to take into account the disabilities caused by Kovid-1.

“Investing in education and healthcare is necessary to strengthen Pakistan’s most important asset,” said Christina Panasco Santos, director of the Khyber Pakhtunkhwa Human Capital Investment Working Group.

The plan will help eliminate a permanent shortage of human capital that limits the province’s current and future economic development.

The Balochistan project will help the government modernize schools and health facilities in four districts, improve service delivery, increase accountability, increase accountability for community participation, and improve service delivery systems.

Health and education facilities, especially in the early summer, will bring huge benefits to children and their families through the economy and improving opportunities in the future,” said Yi-Qing Li, Human Resources in Balochistan. Head of Investment Plans.

The project will serve as a model for coordination in education and health to support Balochistan and human capital investment.

Both projects are funded by IDA18’s regional sub-window for host communities and refugees. Pakistan applied and got access to PAN in 2017.

In addition to the two approved projects, national institutions to strengthen living and management and refugee institutions in the Balochistan project were approved on March 3, 2020.

All these projects will receive $ 128 million in additional IDA funding to help poor and vulnerable families in Balochistan and Khyber Pakhtunkhwa.

World Bank Group’s response COVID-19

The World Bank Group is one of the largest sources of funding and information for developing countries and is taking swift action to strengthen its pandemic response.

It supports public health interventions and helps the private sector operate and maintain work to ensure critical care and access to equipment. Funding of up to $160 billion in 15 months will be used to protect the poor and vulnerable, support business, and facilitate economic recovery in more than 100 countries. This includes $50 billion in new IDA funding through highly concessional grants and loans.

Latest articles

The US and Pakistan signed an agreement to prevent the abduction of Children

Washington DC: The US State Department has announced that it has signed a legal framework between the United States and Pakistan to...

Google made an Announcement of 100,000 Scholarships in Data Analytics, Project Management and Many More

Following the current increase in unemployment due to the global pandemic, Google has announced 100,000 scholarships based on data analytics, project management...

Pak Suzuki offers more than Rs, 170,000 discounts on its Automatic car variants

Pak Suzuki Motor Company (PSMC), recently announced on social media, offers an excellent incentive for those who choose cars with Suzuki Auto...

Trump is pushing Obama again as the COVID-19 sensation worsens in the US.

On Monday, President Trump again tried to blame the Obama administration for its response to the coronavirus. White House...

Related articles

Translate Ā»