World Bank to lend $1.5b to Pakistan

New York, September 18:

Confirming that Pakistan’s Gross Domestic Product (GDP) had risen to 8.4 per cent, the World Bank (WB) said it would give $1.5 billion annually to the country to develop its social sector and improve infrastructure. “The World Bank is satisfied with Pakistan’s performance and will continue assistance in different sectors of the country,” Ziyad Ahmed, director (operations) of the World Bank, said. He said this growth rate should be maintained to alleviate poverty.

On the Pakistani government’s claim of poverty eradication, Ahmed said that 30 per cent of the people in Pakistan were still living below the bottom line of poverty. “Pakistan government will have to pay special attention to alleviate the menace of poverty,” Ziyad Ahmed said.