WB to provide $4bn to Pakistan in Budget Support
Islamabad: The World Bank has offered USD 4 billion in budget support to Pakistan in order to mitigate the negative economic impacts of coronavirus, as reported by the news sources.
The international agencies will also collaborate with Pakistan and repurpose their investments in existing projects to increase the economic resilience of the country. WB President David Malpass and Asian Development Bank President Masatsugu Asakawa wrote a joint letter to Prime Minister (PM) Imran Khan and requested him to maintain the course of medium-term structural reforms in order to take the country out of the crisis.
In the letter, the two Presidents acknowledged the Global Debt Relief Initiative by Group 20 (G20) countries to suspend the debt service payments.