ISLAMABAD, Oct 21: The World Bank and Pakistan on Saturday inked a grant agreement of $750,000 to help finance preparation activities for the Punjab Large Cities Development Policy Loan (DPL).

According to an official announcement, the grant was financed by the World Bank administered policy and human resource development (PIIRD) programme funded by the government of Japan.

The grant would support activities required for the preparation of the project and might include preparation on the feasibility studies, environmental, social, economic assessments, stakeholders consultations, studies and workshops, surveys and provision of technical services.

The loan was designed to promote economic growth and improve infrastructure service delivery in major cities of Punjab. The project would assess cities in developing strategic investment plans and improve services delivery in solid waste, urban transport, and strengthen loan finances that support infrastructure investment and service delivery.

This project’s objective would be met through the implementation of three consecutive development policy loans of $100 million each.