BML 4.81 Decreased By ▼ -0.10 (-2.04%)
BOP 12.74 Decreased By ▼ -0.32 (-2.45%)
CNERGY 7.01 Decreased By ▼ -0.11 (-1.54%)
CPHL 83.34 Decreased By ▼ -1.31 (-1.55%)
DCL 13.24 Decreased By ▼ -0.48 (-3.5%)
DGKC 171.80 Decreased By ▼ -1.54 (-0.89%)
FCCL 46.05 Decreased By ▼ -0.55 (-1.18%)
FFL 15.57 Decreased By ▼ -0.13 (-0.83%)
GCIL 26.58 Decreased By ▼ -0.09 (-0.34%)
HUBC 148.14 Decreased By ▼ -2.25 (-1.5%)
KEL 5.31 Increased By ▲ 0.04 (0.76%)
KOSM 6.24 Decreased By ▼ -0.16 (-2.5%)
LOTCHEM 20.67 Decreased By ▼ -0.09 (-0.43%)
MLCF 84.02 Decreased By ▼ -1.42 (-1.66%)
NBP 124.95 Decreased By ▼ -3.90 (-3.03%)
PAEL 40.96 Decreased By ▼ -1.09 (-2.59%)
PIAHCLA 21.84 Decreased By ▼ -0.32 (-1.44%)
PIBTL 10.14 Increased By ▲ 0.05 (0.5%)
POWER 14.00 Increased By ▲ 0.06 (0.43%)
PPL 163.05 Decreased By ▼ -0.91 (-0.56%)
PREMA 41.44 Decreased By ▼ -0.54 (-1.29%)
PRL 31.98 Decreased By ▼ -0.84 (-2.56%)
PTC 22.80 Decreased By ▼ -0.76 (-3.23%)
SNGP 115.12 Decreased By ▼ -2.85 (-2.42%)
SSGC 44.06 Decreased By ▼ -1.19 (-2.63%)
TELE 7.75 Decreased By ▼ -0.25 (-3.13%)
TPLP 9.90 Decreased By ▼ -0.22 (-2.17%)
TREET 23.48 Decreased By ▼ -0.49 (-2.04%)
TRG 55.84 Decreased By ▼ -1.17 (-2.05%)
WTL 1.49 Decreased By ▼ -0.03 (-1.97%)
BR100 14,134 Decreased By -4.9 (-0.03%)
BR30 39,571 Decreased By -563.9 (-1.4%)
KSE100 138,597 Decreased By -68.1 (-0.05%)
KSE30 42,341 Decreased By -12.3 (-0.03%)
Markets

World Bank approves $200mn for newly-merged areas of KPK

  • The latest funding is part of programme agreed with the government to respond to last year's floods
Published June 14, 2023

The World Bank’s Board of Executive Directors approved on Wednesday $200 million in financing to strengthen state capacities in the newly-merged areas of Khyber Pakhtunkhwa, including investments for post-floods rehabilitation and reconstruction.

As per the statement, the funding is part of the programme agreed with the Pakistani government to respond to the devastating floods, which hit the country last year.

Last year, record monsoon rains in south and southwest Pakistan followed by glacial melt in northern areas triggered flooding that impacted nearly 33 million people in the South Asian nation of 220 million, killing over 1,700 persons, while sweeping away homes, crops, bridges, roads and livestock.

World Bank shared that Khyber Pakhtunkhwa Rural Investment and Institutional Support Project (KPRIISP) is the first phase of a multiphase programmatic approach that aims to increase access to resilient and reliable basic services for rural households in the newly merged areas of Khyber Pakhtunkhwa.

“KPRIISP aims to address development gaps in rural areas that are among the poorest in the country, directly benefiting around 5.5 million people by extending public service delivery systems, investing in basic infrastructure like water supply and sanitation, and boosting agricultural productivity and livelihood opportunities,” said Najy Benhassine, World Bank Country Director for Pakistan.

“It will also support post-floods reconstruction and rehabilitation, while strengthening resilience to such climate-related shocks, particularly in the Newly Merged Districts of the Province.”

The World Bank said that the KPRIISP will support the extension of state systems to deliver public services in the Newly Merged Districts as well as investments in critical and basic rural infrastructure.

“It will also support emergency reconstruction and rehabilitation of flood protection infrastructure damaged by the 2022 floods.

“In addition to investments in critical infrastructure, this new project will provide conditional grants to village councils to finance local infrastructure priorities in line with community preferences and women’s priorities,” said Anna O’Donnell, Task Team Leader of the project.

“It will also ensure that communities are involved in participatory planning, budgeting, monitoring, and improving social accountability systems, while focusing on institutional strengthening and capacity building of village councils.”

Last month, World Bank had approved $213 million in financing for Balochistan aimed at improving livelihoods and essential services and enhancing risk protection in communities affected by the 2022 floods.

Comments

Comments are closed.

Tulukan Mairandi Jun 14, 2023 03:38pm
Read the WB statement (still classified, will be issued on Friday). It says "potentially autonomous areas of KPK in what is purported to be Pakistan, but in fact is disputed".
thumb_up Recommended (0)
Ali Asghar Jun 14, 2023 05:10pm
@Tulukan Mairandi, Woohoo, currently we are bracing for manipur's freedom where another riot started. Freedom fights have become a new norm in India.
thumb_up Recommended (0)