WB to disburse around $1.5 bln for various projects this year

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ISLAMABAD: World Bank Country Director Patchamuthu Illangovan called on Federal Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar here in Islamabad on Thursday.

Deputy Chairman Planning Commission Dr. Muhammad Jahanzeb Khan, members Planning Commission and senior officials of the Ministry were also present in the meeting.

During the meeting, Mr. Illangovan apprised that World Bank will disburse around $1.5 billion this financial year for various projects as part of its active program.

Appreciating the contribution of World Bank in socio-economic development of Pakistan, the Minister said that measures are being taken to expedite the implementation of foreign funded projects by streamlining the process.

He stated that it has been decided to review the foreign funded portfolio every month in consultation with all relevant stakeholders to remove bottlenecks and gaps in implementation of projects. During the meeting, various WB funded projects came under discussion.

Illangovan said that World Bank will continue to contribute to the development of Pakistan.