World Bank approves $149.7m in financing for two projects in Pakistan

World Bank approves $149.7m in financing for two projects in Pakistan

A participant stands near a logo of World Bank at the International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. — Reuters 
  • Financing for SBIP will support better resilience to floods.
  • DEEP to develop digital authentication, data-sharing platforms.
  • 2022 catastrophic floods were tragic reminder, says World Bank. 

In order to support Digital Economy Enhancement Project (DEEP) and Sindh Barrages Improvement Project (SBIP), the World Bank’s Board of Executive Directors has approved $149.7 million in financing for Pakistan

DEEP worth $78 million will support the expansion of digitally enabled public services delivery for citizens and firms, while the second additional financing for the Sindh Barrages Improvement Project ($71.7 million) will support better resilience to floods and improvements in the reliability, safety, and management of the provincial barrages, a statement issued on Friday read. 

“The catastrophic floods that hit Pakistan in 2022 were a tragic reminder of the importance to build resilience to such disasters, including by strengthening barrages and their management,” said the bank’s Country Director for Pakistan Najy Benhassine.

“Also, supporting the growing digital economy in Pakistan is key for economic and social development, broadening connectivity and access to government and financial services for citizens and entrepreneurs, particularly women.”

DEEP would develop digital authentication and data-sharing platforms to enable Pakistan to respond more effectively and efficiently to shocks, deliver better e-government services to citizens and firms, and support regulatory reforms in the sector, including to enable greater private participation, and strengthening personal data protection and online safety.

The project would also promote financial inclusion by enabling women in particular, to open bank accounts or apply remotely for credit through a smartphone application. It will also contribute to addressing barriers such as limited mobility and digital literacy.

The second additional financing for the SBIP would support the full completion and commissioning of the Guddu and Sukkur barrages rehabilitation works and improve the management of three barrages in Sindh including Guddu, Sukkur and Kotri.

Having safe and effective barrages to convey flood waters downstream is a crucial part of building climate resilience in Sindh.

The additional financing will also contribute to strengthening the provincial barrage management unit’s technical capacities, promoting women’s participation in emergency preparedness, and implementing extensive citizen engagement and stakeholder participation.

Source link