World Bank Country Director, Rachid Benmassoud Tuesday called on Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh at his office. During the meeting, World Bank Country director briefed the minister about World Banks commitment, disbursements, portfolio performance and financial year 2012 Work Plan.
It may be mentioned here that during last year a total portfolio of $ 1.6 billion financing 13 projects were finalised and signed. Out of which $ 1.3 billion was concessional loan. The projects, which were undertaken by this financing, have been construction of Highways, Barrages, Karachi Port Trust, Education, Polio Eradication and Higher Education, in the financial year 2011 amounting of $ 810 million. The total portfolio of $ 4.5 billion, with the support of World Bank, is currently under implementation.
The country director also briefed the finance minister about his banks financing in the power projects (Tarbela IV) Education, Re-vitalisation of Economy of Khyber-Pakhtunkhwa and Fata on the social safety net, irrigation, and revenue mobilisation. He also said that due to the close co-ordination with the Economic Affairs Division of Ministry of Finance issues were timely resolved, and World Bank could be able to properly disburse $ 810 in the financial year 2011.-PR
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