In a fast-moving process, the executive board of the World Bank has approved a $500 million loan to help Pakistan improve health and education facilities, generate jobs for women and strengthen social safety nets under its efforts to fight the impact of the Covid-19 pandemic.

The loan is set for quick disbursement and would be available to Pakistan well before the current fiscal year ends on June 30. The project will be financed by the International Development Association — a concessional window of the World Bank — and will have a 30-year maturity with a five-year grace period.

Read full story here.