World Bank Director for Pakistan Najy Benhassine on Thursday rejected reports of delay in the loan approval for Pakistan.
According to details, the World Bank Pakistan representative rejected the rumors and said that there is no truth in such news.
Also Read : Pakistan signed $475 Million flood relief agreement with the Asian Development Bank
“The tentative board approval dates of all of our proposed operations, as well as their amounts, are indicative, and the World Bank decides on the timing for sharing project proposals for board consideration following due process and based on the proposed projects’ readiness,” the World Bank official added.
Earlier, The World Bank’s Board of Executive Directors approved 195 million Dollars in financing to support Pakistan in improving electricity distribution to increase service quality for consumers.
Behassine made it clear that all the dates for the approval of loans were already scheduled.
Remember that Pakistan is facing severe economic crisis already devastating floods that have led to losses of more than $30 billion. On the other hand, Pakistan s foreign exchange reserves held by the State Bank of Pakistan (SBP) also dropped to $4.3 billion earlier this month.
