WB to lend NWFP $90m
PESHAWAR: The World Bank (WB) has pledged to give NWFP $90 million in soft loans in the last months of this year under the Structural Adjustment Credit III (SAC III) programme after the provincial government met most the bank’s conditions. SAC-III has now been renamed Developmental Policy Credit (DPC).
A WB mission called on NWFP Senior Minister Sirajul Haq at the Peshawar Civil Secretariat on Saturday to discuss the loans and expressed their satisfaction over the provincial government’s steps to improve social infrastructure in the province. They also informed him of the bank’s decision to provide the loan tranche by November or December. WB representative Paul Wade acknowledged that it was encouraging that 80 percent of the bank’s conditions had been met. He added that full compliance with the bank’s conditions would prompt the bank to release the bulk of the loan. He said that it was decided that a soft loan under the DPC would be released in the last months of 2005.
Haq welcomed the bank’s decision and said that his government had enacted policies that would ensure maximum productivity. staff report
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| Monday, December 31, 2007
