Washington: The World Bank on Friday approved two projects worth USD 300 million to help Pakistan strengthen its social safety nets and improve higher education.
While USD 200 million is for the Social Safety Nets Development Policy Credit, another 100 million is to support efforts to improve higher education in Pakistan, the World Bank said adding that Pakistan`s policy credit is designed to establish an institutional and operational framework for an efficient national safety net system.
This policy credit along with the Social Safety Net Technical Assistance project will strengthen the Pakistan Government`s Benazir Income Support program to cushion the negative effects of food crisis and inflation on poor people, the bank said.
"This project will help build a robust safety net system that provides chronic and transient poor people with both basic income support and access to opportunities that will help lift them out of poverty," said Yusupha Crookes, World Bank Country Director for Pakistan.
It supports the completion of critical reforms undertaken by the Government of Pakistan to create the conditions to enhance skilled Pakistanis contribute to an economy based on knowledge and technology, the Bank said.
Bureau Report
