World Bank to provide $150 million to Pakistan
The World Bank has announced its commitment to extend
financial support to Pakistan, with $150 million earmarked for this purpose.
Out of this amount, $135 million will be provided as a loan to support energy
sector projects.
Additionally, the World Bank will allocate a $15 million grant. The primary objective of these funds is to enhance the efficiency of Pakistan's energy sector. The plan involves transitioning commercial, industrial, and residential buildings from using gas to electricity.
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It is anticipated that the implementation of this project will result in an annual savings of Rs291.65 billion. Furthermore, the initiative is expected to promote private sector investments in the energy sector and encourage the construction of energy-efficient buildings.
Source: Samaa TV