Dollar 350 Million Loan Pacakage Signed By WB For Pak
September 15, 2009 by Trend PK
Filed under Business News
ISLAMABAD: Pakistan will get USD 350 million loan from World Bank that would be spent on promoting higher education, social security and other sectors in the country.
Government of Pakistan and World Bank signed three agreements in this connection here Tuesday which will enable Pakistan of receiving the concessional loan to be paid back in 35-year time span at zero point five per cent interest rate.
According to the agreements, $200 million would be spent on developing social security net, $100 million on promoting higher education and remaining $50 million on development of irrigation system in Sindh.
WB’s Country Director for Pakistan Yusupha Crookes and Secretary Economic Affairs Division Farrukh Qayyum signed the agreements in a ceremony here.
Dollar 350 Million Loan Pacakage Signed By WB For Pak was first posted on September 15, 2009 at 1:31 pm.
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