Islamabad, Aug 1: The World Bank will extend more loans worth 1.8 billion dollars to Pakistan if it adheres steadfastly to the reform process, takes steps to attract investment and alleviates poverty. In its Country Assistance Strategy for Pakistan, the Bank said if Pakistan meets the challenges underlined by it to continue economic reform, it would get as much as 3.347 billion between 2002 to 2005 out of which it has already received 947 million dollars in 2001-2002.
The new loans worth 600 million dollars per annum would be provided for a period of three years, 2002-2005 under the International Development Agency (IDA) terms and another 300 million dollars each during 2004 and 2005 under International Bank of Reconstruction and Development (IBRD) terms to support the process.
In case of slippages the Bank would pull back some of the programme.
Bureau Report