ISLAMABAD: The World Bank has approved 500 million dollars as budgetary support to Pakistan for energy sector reforms.
The approval comes in the wake of wide-ranging reforms in the energy sector carried out by the government.
This is also an expression of confidence of the World Bank in government’s reforms policy.
‘Yes, the WB’s Executive Board has granted approval to much-awaited energy sector loan programme of $500 million,’ official sources have confirmed according to a local newspaper website on Thursday night.
‘The WB’s board met in Washington DC to consider Pakistan’s request for energy sector loan that took months to complete its second phase. The government had made all out efforts to get this loan during the last financial year but its efforts met with failure,’ the sources said.
