ISLAMABAD, Aug 14: The World Bank is likely to offer $500 million funding to Pakistan for infrastructure development and poverty alleviation but has expressed its dissatisfaction over the government’s performance to reduce the poverty during the last five years, Dawn has learnt.
Sources said a World Bank mission that visited Pakistan in November last year had proposed the funding for poverty alleviation.
They say that the bank wants Pakistan government to work out comprehensive programme to improve the infrastructure through the new funding, especially for attracting sizable local and foreign investment. The bank has stressed the need for reducing poverty level, they added.The sources claim that bank authorities do not agree with the government’s claim of remarkable reduction in poverty and believe that fruits of improved economy, especially during last seven years, have not reached to people.
They say the bank authorities have expressed concern over the reports of misuse of funds.
The bank is expected to offer $250 million each for infrastructure development and poverty reduction during the next five year period.
Meanwhile, the Rome based UN International Fund for Agricultural Development has approved $30 million funding each for livestock support and assets building of the rural population of Pakistan, the sources said.
