World Bank Delaying Approval of $1.1 Billion Loan?

Denial of World Bank Delaying approval of $ 1.1 billion loan for Pakistan!

The World Bank has rejected as baseless the reports that the approval of the possible operation in Pakistan has been delayed pending the decision regarding the delay.

In this respect, the Country Director of the World Bank in Pakistan, Naji bin Hussain, has said in a tweet on the social networking platform Twitter that the decision of the World Bank regarding the delay in the approval of the World Bank’s operations in Pakistan. There is no truth to the press reports that were published.

In addition, he clarified that the board of directors had set the dates for the approvals of all our proposed operations and their funding. He said that after the World Bank has gone through the due process and based on the readiness of the proposed projects for consideration by the World Bank’s Board, the World Bank will determine the time for project proposals to be exchanged for consideration.

Yesterday, the foreign news agency Reuters reported that the World Bank had delayed the provision of $1.1 billion to Pakistan due to some measures regarding energy loans and tariffs until the next financial year.

According to the report, the main issue in Pakistan is the management of revolving credit and tariff revision in the energy sector.

Written by Aly Bukshi

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