WB terms reports on delaying loans for Pakistan as “unfounded”

Author: APP/ Web Desk

ISLAMABAD: The World Bank on Thursday termed the media reports on delaying approval of loans for Pakistan as unfounded and baseless saying that it was not delaying approval of any loan for the country.

“The press reports that refer to a World Bank decision to delay approval of potential Bank operations in Pakistan are unfounded”, Country Director of the World Bank for Pakistan Najy Benhassine said on his official twitter handle.

Earlier, the media reports had claimed that the Washington-based lender had delayed the approval of two loans for Pakistan worth $1.1 billion until the next fiscal year pending some steps on the country’s energy debt and tariffs.

However, Behassine made it clear that all the approval dates for approval of loans were already scheduled.

“The tentative Board approval dates of all of our proposed operations, as well as their amounts, are indicative, and the World Bank decides on the timing for sharing project proposals for Board consideration following due process and based on the proposed projects’ readiness”, the WB Country Director added.

Share
Leave a Comment

Recent Posts

  • Pakistan

Closing Ceremony of “On Job Training of Royal Saudi Land Forces with Pakistan Army

Closing Ceremony of “On Job Training of Royal Saudi Land Forces with Pakistan Army” was…

2 mins ago
  • Blogs

Self esteem and tips to master it

Ever watched superman or batman? Wonder woman and other key characters that fight crime? Minus…

21 mins ago
  • Business

Engro revenues show robust growth of 35% in 2023

Engro Corporation experienced robust growth in revenue in 2023, with a remarkable 35% increase, reaching…

6 hours ago
  • Business

IT Minister forecasts bright future as Pakistan’s IT exports surge

Caretaker Federal Minister for Information Technology and Telecommunications, Dr. Umar Saif on Monday said that…

6 hours ago
  • Business

US, China, UK remain top destinations for Pakistani exports during Jul-Jan

The United States (US) remained the top export destination of Pakistani products during the first…

6 hours ago
  • Business

PSX stays bullish, gains 490 more points

The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Monday, gaining…

6 hours ago