The World Bank has assured Pakistan that it will help in long-term development

World Bank headquarters in Washington. — AFP/File

World Bank Regional Vice President for South Asia Martin Reiser on Tuesday assured Pakistan to optimize its cooperation in the coming years while appreciating its existing cooperation with the country and its relevant government agencies.

That’s what Reiser said World Bank advocates for Pakistan’s long-term development with an emphasis on the transition to renewable energy, especially hydro and solar energy.

Raiser pledged to promote cooperation in the development and climate response sectors during a meeting with Pakistan’s ambassador to the US, Masood Khan, in Washington.

Khan expressed his gratitude at the meeting international financial organization To release approximately $1.2 billion in funds allocated for various projects underway in Pakistan.

“Smooth financial circulation would ensure the timely completion of the plans of the social sector,” he said.

During his visit to Pakistan in early September last year, Riser confirmed the bank’s commitment to support the people of Pakistan after the devastating floods. He also co-chaired a high-level round table with the United Kingdom on October 14 last year. effects of floods On the sidelines of the 2022 annual meetings of the World Bank and the International Monetary Fund in Pakistan.

Pakistan’s Ambassador thanked the global lender for contributing US$2 billion to flood relief, recovery and rehabilitation, which includes housing, water and agriculture, social protection and health support, during the International Conference on Climate Resilient Pakistan in Geneva.

“The World Bank has been a courageous development partner for Pakistan,” Khan added.

The Ambassador requested additional funding and assistance from the Bank for health projects, particularly to address water-borne diseases in flood-affected areas. He also requested the World Bank’s support in moving from adaptation and mitigation to building resilience.

“Pakistan is committed to providing a transparent and efficient mechanism for disbursing funds to flood victims,” ​​Khan said, adding that an International Partner Support Group (IPSG) would soon be announced for this purpose.

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