World Bank to provide $7.636bn for development projects

Senate Standing Committee on Planning, Development and Reforms has been told that World Bank has committed a total of $ 7.636 billion loans to Pakistan for various development projects out of which $ 2.41 billion have already been disbursed. The committee met under the chairmanship of Senator Agha Shahzaib Khan Durrani.

World Bank will provide $ 1.114 billion for Tarbela 4th Extension Hydropower Project out of which $ 534.31 million have already been disbursed, while $ 588.4 million are committed for Dasu Hydropower Staged Project out of which $ 176.23 million has been disbursed. Sindh Water Sector Improvement Project will get a total of $ 283 million and $ 380 million have been committed for Punjab Irrigated Agriculture Project. Third Punjab Education Sector Project will be allotted $ 300 million. Punjab Health Sector Reforms Project will be provided $ 100 million by the WB. Disaster Resilience Improvement Project will be initiated for which $ 125 million will be given as loan and Balochistan Integrated Water Resources Management& Development Project will get $200 million.

World Bank committed $ 425 million for Transmission Modernisation Project, $ 400 million for Public Financial Management and Accountability to Support Service Delivery, $ 188 million for Pakistan Hydromel and DRM Service Project, $ 400 million for Second Sindh Education Sector Project, $ 50 million for Punjab Tourism for Economic Growth, $ 200 million for Punjab Green Development Programme and $ 200 million for Punjab Cities Programme, etc.

The chairman of the committee observed that slow pace of development projects indicate that estimates have not been made according to real situation and most of the projects are being completed under revised estimates