$500m sought from WB for improving fiscal management

Web Desk – November 20, 2019

ISLAMABAD: The government is seeking a loan of $500 million from the World Bank for a programme aimed at enhancing the policy and institutional framework to improve fiscal management.

According to details shared on Tuesday, the Resilient Institutions for Sustainable Economy (Rise) project will support the government’s efforts to maintain macroeconomic stability while putting in place the foundations for sustainable growth. The World Bank executive board is expected to approve the request of loan in early 2020.

The proposed operation is the first in a programmatic series of three operations focused on enhancing the policy and institutional framework to improve fiscal management; and improving the regulatory framework to foster growth and competitiveness. The proposed series will be complementary to the two-year development policy series Securing Human Investments to Foster Transformation (Shift).

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