Watch World Bank Sanctioned $500m Loan – Pakistan : The World Bank on Thursday approved a $500 million interest-free loan for Pakistan to help stabilize the economy in the face of political and economic turmoil, and investor uncertainty.
Yusupha Crookes, World Bank country director for Pakistan, said policies adopted so far by the government had helped rebuild foreign exchange reserves and lowered inflation.
“However, the sharp deterioration of the global economy poses significant risks to exports, remittances and external financing. “This underlines the importance of Pakistan regaining economic stability and protecting its …