World Bank has approved $149.7 million for projects in Pakistan
The World Bank has approved $149.7 million in financing for a pair of projects in Pakistan (Digital Economy Enhancement Project and Sindh Barrages Improvement Project)
The World Bank has authorized $149.7 million in finance for Pakistan’s two major projects: the Digital Economy Enhancement Project for $78 million and the Sindh Barrages Improvement Project for $71.7 million. According to the announcement, the Digital Economy Enhancement Project ($78 million) will promote the growth of digitally enabled delivery of public services for citizens and businesses. In comparison, the second additional funding for the Sindh Barrages Improvement Project ($71.7 million) will support better flood protection and improvements in the security, safety, and management of the Sindh barrages.
The disastrous floods that affected Pakistan in 2022 were a painful reminder of the significance of building capacities to such natural disasters, particularly upgrading barrages and their management,” remarked Najy Benhassine, World Bank Country Director in Pakistan. “Helping Pakistan’s developing digital economy is also critical for economic and social development, as it increases connection and access to government along with financial services for citizens and businesses, specifically women.
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Evenly, the Digital Economy Enhancement Project (DEEP) will create digital verification and sharing of information platforms to help Pakistan interact with more incredible speed and effectiveness to unexpected events, provide better e-government services to citizens and businesses, and support changes to regulation in the sector, such as increasing the involvement of the private sector and building up personal data protection as well as online security.
However, the concept will additionally support financial participation by allowing women, in particular, to create bank accounts and apply for credit from home using a smartphone application. It also provides opportunities to overcome challenges like restricted mobility and knowledge of the computer. “The digital economy and demand for digital government services are expanding throughout the country, driving up the demand for communication, online payments, and confidence in digital transactions.
The effort adopts a government-wide strategy for digital transformation, which will help guarantee that online platforms are accessible and dependable,” stated Shan Rehman, the project’s Task Team Leader. The second installment of supplementary funding for the Sindh Barrages Improvement Project (SBIP) would help complete and activate the restoration of the Guddu and Sukkur barrages, as well as enhance the overall management of the three barrages in Sindh: Guddu, Sukkur, and Kotri.
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The increased funding will also help to develop the provincial Barrage Management Unit’s technical capabilities, encourage women’s participation in emergency planning, and execute comprehensive community and stakeholder engagement activities. “Barrages like those which SBIP sponsors are crucial for Sindh Province’s sources of income and environmental durability,” said Francois Onimus, the project’s Task Team Leader.
The project will improve the capacity to recover the canal systems supplied by these barrages, decreasing the negative effects of major disasters such as drought and flood occurrences.” Moreover, Pakistan has been part of the World Bank since 1950. Until then, the World Bank has given $40 billion in aid. The Country Connection Strategy governs the World Bank’s operation in Pakistan, with four main fields of interaction: energy, private sector expansion, social inclusion, and delivery of services. The present portfolio includes (54) projects with an overall contribution of $14.6 billion.
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