Pakistan, WB sign $350 million loan package

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, report said. 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.


Source: finance.kalpoint.com