Friday, 25 May 2012 18:35
ISLAMABAD: The World Bank will provide US$ 350 million to Pakistan for the education sector development project in Punjab Province.
In this regard an agreement signing ceremony was held at Economic Affairs Division (EAD) here on Friday.
Secretary EAD, Dr Waqar Massod Khan, Country Director World Bank, Rachid Benmessaoud and Secretary Education Department Punjab, Muhamad Aslam Kambo inked the agreement behalf of their respective sides.
The main objective of the project is to support the education sector reforms of the government of Punjab to increase child school participation at multiple levels and student achievement.
The project is based on result based component which will finance the second phase of the education sector reforms program, amounting to US$ 340 million about 97 of the total credit.
The technical assistance components will finance the essential advisory, and capacity building support for the second phase of the education sector reforms program amounting to US$ 10 million about 3 percent of the total credit.
Speaking on the occasion, Secretary EAD, Dr. Waqar Massod thanked the World Bank for collaborating with the government of Pakistan in education sector reforms to increase the school enrollment in the country.
He informed that the recent credit agreement was the continuation of the project worth US$ 400 million to enhance child school participation in the province of Punjab.
He said that the current support of World Bank will help for further streamlining the education sector of the province and also help to enhance child enrollment.
World Bank, Country Director, Rachid Benmessaoud re-iterated the support of his organization for bringing about the reforms at gross root level in the education sector.
Secretary Education Pujnab thanked the federal government and World Bank for supporting the province to reforming the education sector.
Copyright APP (Associated Press of Pakistan), 2012