The death toll from the devastating earthquakes in Venezuela has climbed to more than 2,600, according to the country’s interim president, as rescue teams continue searching for survivors in affected areas. Interim President Rodríguez said the number of confirmed deaths had reached 2,600, while more than 11,000 people have been injured in the disaster. Officials […]
World Bank
World Bank urges Pakistan to revise NFC Award
The World Bank has recommended that Pakistan revise the National Finance Commission (NFC) Award formula to improve fiscal federalism, strengthen revenue collection and ensure a more equitable distribution of resources among the provinces. The recommendations were presented in the World Bank’s report, Strengthening Fiscal Federalism in Pakistan, launched by lead economist Tobias Haque and Country […]
WB urges stronger fiscal federalism to sustain growth, improve services
The World Bank on Wednesday, in its report titled “Strengthening Fiscal Federalism in Pakistan,” stressed the need to reform the country’s system of resource distribution among federal, provincial and local governments. It warned that stronger fiscal coordination was essential to sustain economic stability, improve public service delivery and effectively respond to the demands of a […]
Punjab secures $70 million World Bank support
The World Bank has approved $70 million for Punjab’s digital transformation programme to expand broadband access and modernise public services. The funding will support the Connected Punjab initiative through 2031. The programme aims to improve digital connectivity and government services for millions of residents. According to the World Bank, the project will expand broadband internet […]
WB team satisfied with progress on Fifth Tarbela extension project
A high-level delegation of the World Bank, led by its Country Director for Pakistan, Bolorma Amgaabazar, visited the under-construction Tarbela Fifth Extension Hydropower Project (T-5) and expressed satisfaction over the pace and quality of work being carried out on the strategic energy project. During the two-day visit, the delegation was given a comprehensive briefing on […]
Pakistan’s external debt reaches $92.2 billion
Pakistan’s government external debt stood at $92.2 billion at the end of March 2026, according to the Economic Survey of Pakistan 2025-26, highlighting the country’s continued reliance on external financing while showing a slower pace of debt accumulation compared to the previous year. The survey revealed that during the first nine months of fiscal year […]
Global interest grows in Punjab housing programme “Apni Chhat Apna Ghar”
Punjab’s flagship housing initiative, “Apni Chhat Apna Ghar,” has attracted growing international attention, with the World Bank and several countries expressing interest in the programme as a model for affordable housing development. Read More: ‘Apni Chhat, Apna Ghar’ scheme tops world rankings, says Punjab CM According to officials, government institutions and agencies from Canada, Saudi […]
Pakistan, WB discuss human capital development, tech-led service delivery
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and World Bank (WB) delegation, led by Vice President for Human Development, Ms. Mamta Murthi here on Wednesday discussed strengthening cooperation in human capital development, focusing on skills enhancement, improved health outcomes, education, social protection and technology-driven public service delivery. The delegation included Ms. Bolormaa Amgaabazar, […]
Iran US War Triggers Economic Strain Across 27 Countries
Iran-US War Triggers Economic Strain Across 27 Countries as growing conflict between Iran and the United States has created serious financial pressure in multiple regions. According to a British news agency report, 27 countries have formally approached the World Bank for financial assistance due to rising economic challenges linked to the crisis. The report states […]
WB delegation visits FP Bund and RBOD, assesses damage
A delegation from the World Bank, accompanied by Pakistan Peoples Party MPA Sardar Khan Chandio, visited the FP Protective Bund and RBOD (Right Bank Outfall Drain) sum, as well as the Kheer Thar Mountains and Balochistan here on Saturday. During the visit, PPP MPA Sardar Khan Chandio briefed the delegation about the damage caused by […]