Pakistan requests World Bank to
restructure Financial Inclusion and Infrastructure Project
The government of
Pakistan has requested the World Bank to restructure the
“Pakistan Financial Inclusion and Infrastructure Project” to complete the
national payment system activities and reallocation of undisbursed funds.
Financial Inclusion and Infrastructure Project
(FIIP) was conceptualized to support the implementation of Pakistan’s National
Financial Inclusion Strategy (NFIS).
The SBP developed the NFIS with the support of
the World Bank (WB) through a Reimbursable Advisory Service (RAS) in 2015. The
government requested World Bank support to help meet the objectives of the NFIS
through the FIIP; which was approved by the WB Board on June 15, 2017.
FIIP is a US$137 million operation. The Project Development
Objective (PDO) is to contribute to increasing access and usage of digital
payments and other financial services for households and businesses in
Pakistan.
Source: Pro Pakistani