World Bank approves $ 1.09 billion for Pakistan
Power Sector
The World Bank has
approved about $ 1.09 billion financial aid to Pakistan for funding its two
projects that would surely improve the country’s power supply in the crucial
agricultural sector.
While the Tarbela IV
Extension Hydropower Project will add power generation capacity of 1,410 MW,
the Punjab Irrigated Agriculture Productivity Improvement Project is geared
toward maximizing water use efficiency for increased yield per unit of water.
The $ 840 million
Tarbela IV Extension Hydropower Project will use the existing dam, tunnel,
roads and transmission line for generating additional electricity in summer
months when demand for electricity and river flows are high. Meanwhile, the $
250 million Punjab Irrigated Agriculture Productivity Improvement Programme
Project is aimed at getting maximum productivity out of every drop of
irrigation water.
World Bank approves $ 500 million education
project for India
In a bid to make
quality education accessible to young people at the secondary level, the World
Bank approved a USD 500 million credit to support India’s secondary education
project.
The project will
support all activities as envisioned in the USD 12.9 billion Rashtriya
Madhyamik Shiksha Abhiyan (RMSA) programme, a flagship Government of India
programme for gradual universalisation of secondary education.
The project would
be financed by a credit from the International Development Association (IDA) -
the World Bank’s concessionary lending arm- which provides interest free loans
with 25 years to maturity and a grace period of five years.
According to the Roberto Zagha, World Bank
Country Director for India, RMSA is a young programme which is expected to grow
rapidly and hence it is an opportunity for the World Bank to support the
Government of India in building effective systems as the Programme expands
while improving quality.
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