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An agreement was inked by Rashid bin Masood, WB Country Director and Secretary Economic Affairs Division Abdul Wajid Rana, who is here with the Pakistani delegation to IMF-World Bank meetings.
Under the program Pakistan will get idle loan on concessional terms.
According to officials, the money will be available to Pakistan immediately under the disbursement linked and indicator based loan which will facilitate accelerated disbursement loan to Pakistan as soon as a certain indicator is achieved.
The money will be spent on scholarships, centers of excellence and other support for tertiary education and particularly higher education in Pakistan.