World Bank sanctions $150 million for education in Pakistan

The World Bank has allocated $150 million in funding aimed at enhancing education facilities in Punjab province, Pakistan. This initiative specifically targets the five million children currently deprived of schooling opportunities in the region. The funding is intended to improve educational infrastructure and resources, with the overarching goal of significantly reducing the number of out-of-school children across Punjab.

This initiative is part of broader efforts by the World Bank to address educational challenges in Pakistan, particularly focusing on regions with high rates of children lacking access to education.

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In addition to the education funding, the World Bank recently approved a substantial $1 billion loan for the Dasu Dam project in Pakistan. This project represents the largest financial support ever provided by the World Bank for a single project in Pakistan. The funding is earmarked to support environmentally sustainable and cost-effective hydropower generation.

The financing for the Dasu Dam project includes a combination of concessional loans from the International Development Association (IDA) and loans from the International Bank for Reconstruction and Development (IBRD). This blend of financial instruments aims to support Pakistan’s energy infrastructure development while adhering to international standards for environmental sustainability and economic efficiency.