News
Wednesday, April 28, 2010
WB approves $110m fund for Pak border areas
WASHINGTON: The World Bank (WB) will administer a new multi-donor fund with an initial commitment of $110 million from donors for development in the border regions of the FATA, Khyber Pakhtunkhwa and Balochistan, Finance Advisor Abdul Hafeez Shaikh revealed on Tuesday.
Wrapping up a series of meetings with top WB and International Monetary Fund (IMF) leaders, Shaikh said the country’s programme with the IMF remained on track, and expressed hope that the next tranche of $1.3 billion would be forthcoming after the IMF’s review meeting scheduled for May 14.
Pakistan will honour its international commitments and retain the confidence of its development partners despite facing some stiff challenges, he added. app
Courtesy www.dailytimes.com.pk