The WB in a series of tweets stated that in view of the emergency situation and ongoing floods in Karachi, the Sindh government would finance and implement activities through its funds.
The World Bank said in a statement that it “would be also willing to reprogram existing resources and explore additional financing to support rebuilding lives and livelihoods of people impacted by this disaster.”
The World Bank will extend financing of US$500 million and AIIB will provide co-financing of US$250 million for the RISE programme, said a press release.
Ukrainian government said earlier this month it expected to receive this loan by the end of June after securing a $5 billion loan program from the International Monetary Fund on June 9.
WB official says agency is worried about the numbers of children missing vaccinations, women giving birth without medical help and interrupted supplies of life-saving medicines in poor countries
The $200mn grant for Khyber Pakhtunkhwa Human Capital Investment Project and the $36mn grant for Balochistan Human Capital Investment Project will be utilized in improving public services in education and health.
Malpass told Reuters in an interview that 35 of 73 eligible countries were participating in the G20 debt relief initiative, and more had expressed interest.