World Bank to provide $465m for education, power projects

Published June 2, 2019
The World Bank has announced app­roval of two loans amounting $465 million to support higher education in Pakistan and expand sustainable electricity trade between Central Asia and South Asia. — AFP/File
The World Bank has announced app­roval of two loans amounting $465 million to support higher education in Pakistan and expand sustainable electricity trade between Central Asia and South Asia. — AFP/File

ISLAMABAD: The World Bank has announced app­roval of two loans amounting $465 million to support higher education in Pakistan and expand sustainable electricity trade between Central Asia and South Asia.

The approval of $400m ‘Higher Education Deve­lopment in Pakistan’ project will strengthen tertiary education to produce skilled, innovative and enterprising graduates. It will strengthen partnerships with industry for strategic research and develop data-driven governance of tertiary education.

The ‘Central Asia-South Asia Electricity Transmission and Trade’ project (CASA-1000) will enable sustainable electricity trade between Afg­h­anistan, Kyrgyz Rep­ublic, Pakistan and Taji­kistan. The project will use $65 million in additional fin­an­cing to complete Pakistan’s infrastructure part of the CASA-1000 project.

“The two projects support Pakistan’s long-term vision for building high quality talent and promote the creation of a regional energy market to boost economic prospects for millions of Pakistanis,” said World Bank Country Director for Pakistan Illango Patcha­muthu. “Both projects form part of the priority areas identified in ‘Pakistan@100: Sha­ping the Future’, a flagship initiative, that identifies frontier interventions for Pakis­tan to become an upper middle-income country by 2047.”

About the higher education project, lead World Bank economist Tazeen Fasih said that “the project will also support the improvement of teaching and learning at the affiliated college level for improved mid-level skills and employability of graduates”. The project supports the Higher Education Comm­ission of Pakistan’s Vision 2025 programme, developing tertiary education as part of the Pakistan government’s aim to become an upper-middle income country, she said.

The World Bank document on the project says some of the challenges facing the research environment in Pakistan are inadequate and irrelevant research activities with few linkages between universities and industry impacting the commercialisation of research.

There is a misalignment between the government’s said agenda of promotion of innovation and entrepreneurship and implementation of this agenda.

Published in Dawn, June 2nd, 2019

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Avenfield relief
Updated 30 Sep, 2022

Avenfield relief

Accountability cannot continue to be treated like a revolving door in which politicians can be shoved in or pulled out on a whim.
Dar’s plans
Updated 30 Sep, 2022

Dar’s plans

For starters, the country doesn’t have spare dollars to burn.
Another targeted attack
30 Sep, 2022

Another targeted attack

WEDNESDAY’S deadly attack on three Chinese-origin individuals in Karachi’s Saddar area demonstrates the threat...
More leaks
Updated 29 Sep, 2022

More leaks

Recent leaks look more like an inside job than the work of a foreign power.
A depressing winter
29 Sep, 2022

A depressing winter

WINTER is on its way, with a massive gas crunch looming as elevated global LNG prices have eroded the cash-strapped...
Great expectations
29 Sep, 2022

Great expectations

CONSIDERING that the Afghan Taliban have been in the saddle for over a year now, the UN has expressed frustration...