MABAD - The World Bank has finalised assessments to provide $6.5 billion aggregate financial assistance including a major chunk of soft loans to Pakistan during the next four years 2010-2013.
World Bank Country Director for Pakistan, Yusupha B Crookes, said this on Tuesday while sharing the findings of the Country Assessment Strategy (CAS) report for the next four years with the media persons. According to WBs top representative here, Pakistan would be getting a billion a year from $4 billion aggregate development loaning proposed under the strategy. Therefore, total IDA (International Development Association) funds for Pakistan during the period of upcoming CAS would amount to $4 billion, he added. The World Bank would finance rest of $2.5 billion to Pakistan from its IBRD (International Bank For Reconstruction And Development) loaning facility that was under suspension so far. The CAS has proposed the restoration of the IBRD facility to Pakistan in the wake of the countrys economy showing signs of recovery and stabilisation.
The CAS would go into implementation immediately after its approval by the board of executives of the World Bank that is going to meet in March ahead. However, he added, the IBRD facility is linked to the Banks performance criteria.
According to the World Banks Country Director, the next CAS would be focusing the energy sector including, among others, gas efficiency enhancement project of $200 million coming later this year, and Terbela Dam extension of around $500 million in 2011. In addition, he said, the energy sector assistance would also finance the construction of Dasu Dam, for which negotiations were underway.
Moreover the CAS 2010-2013 would also focus areas including infrastructure building, human development and micro-economic improvement.
To a question, he said it was the job of NEPRA not of WB to determine electricity tariff in Pakistan.