ISLAMABAD: The World Bank is likely to give Pakistan $500 million loan to help overcome the energy crisis in the country.
The international lender would issue the said amount under Development Policy Credit after reviewing the implementation of the agreed reforms. Federal Finance Minister Ishaq Dar and WB Managing Director Sri Mulyani Indrawati have discussed the economic progress made and steps taken by the government under a policy agreed between the two sides for the approval of the loan.
During the meeting, the WB managing director emphasised on the implementation of the agreed policies effectively. She also advised the government not to change the goalposts and stick to their original plans even after receiving the loan, said the sources.
The WB and the Asian Development Bank had decided to give $2 billion to Pakistan for energy sector reforms under a medium-term programme. The programme was part of $10 billion that the international lenders had agreed to provide over a period of three years. The amount included $6.6 billion bailout package of the International Monetary Fund.
