Pakistan Obtains $149.7M From World Bank For Digital Economy Initiative

The World Bank has sanctioned $149.7 million to bolster financial inclusion in Pakistan. The funding comprises two projects: the Digital Economy Enhancement Project (DEEP) and the Sindh Barrages Improvement Project (SBIP).

DEEP aims to improve public service delivery through digital platforms, facilitating access to services for citizens and businesses. It encompasses regulatory reforms, personal data protection, and online safety measures to ensure a secure digital environment. Najy Benhassine, the World Bank’s Country Director for Pakistan, underscored DEEP’s potential to stimulate economic and social development by enhancing connectivity and service accessibility, particularly for women.

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DEEP also seeks to advance financial inclusion, especially among women, by providing banking services and credit access through smartphone applications. It aims to empower marginalized communities and bridge the digital divide by addressing mobility and digital literacy challenges.

The SBIP, constituting the second portion of the financing, focuses on enhancing infrastructure resilience against floods in Sindh. This involves rehabilitating key barrages such as Guddu and Sukkur to effectively manage floodwaters. World Bank officials emphasized the importance of robust barrages in bolstering climate resilience in Sindh. The $71 million funding will also bolster capacity-building in barrage management units, encourage women’s participation in emergency preparedness, and engage citizens and stakeholders in project initiatives.