• The money was given as help to the nation because the World Bank has already contributed US$40 billion.
• The disbursement of US$1.17 billion under Pakistan’s Extended Fund Facility .
• It was agreed upon at the staff level between the International Monetary Fund (IMF) and Pakistan.

Days after Pakistan and the International Monetary Fund (IMF) reached a staff-level agreement for the release of US$1.17 billion, the World Bank has approved the provision of US$200 million to Pakistan.

The money was given as help to the nation because the World Bank has already contributed US$40 billion in this area and currently 60 projects totaling US$14 billion are being supported by it.

Details indicate that the Punjab province will get $200 million to support projects held by small farmers, improve the agricultural sector, and equip the latter with technology to address the effects of climate change.

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The proposal could help 190,000 farmers and will enhance the delivery of water supplies to 1,400,000 million acres of land.

The disbursement of US$1.17 billion under the combined 7th and 8th reviews of Pakistan’s Extended Fund Facility was recently agreed upon at the staff level between the International Monetary Fund (IMF) and Pakistan (EFF).

The agreement must be approved by the IMF Executive Board, according to a statement from the Fund.

Additionally, “the IMF Board will consider an extension of the EFF until end-June 2023 and an augmentation of access by SDR 720 million, which will bring the total access under the EFF to about US$7 billion in order to support programme implementation and meet the higher financing needs in FY23, as well as catalyse additional financing.”

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