Pakistan, on the verge of bankruptcy, has now spread the bag in front of the World Bank. Pakistan hopes to secure a $ 12 billion loan over the next five years. According to the Tribune Pakistan report, in May of this year, Pakistan can get this aid as part of this new partnership strategy. Minister for Economic Affairs Makhdoom Khusro Bakhtiar and World Bank Country Director Neji Benahseen discussed development priorities for Pakistan.
Not yet promised
The newspaper’s report says a senior ministry official said the World Bank has yet to make any promises. He said $ 12 billion could be granted between 2022 and 2026, depending on Pakistan’s quota, budget support needs and private sector commitments. Pakistan’s three-year quota under IDA-19 is $ 3.5 billion.
Imran Khan softened as Pakistan went limp, asking for mercy from lending countries
Can be decided next month
According to the official, the International Bank for Reconstruction and Development is also expected to receive $ 3 billion over the next three years. Pakistan called on the World Bank to focus only on a few key areas, which can have the required impact. Discussions with Pakistan could be completed by the end of next month. The World Bank believes that the lack of resources and skilled human resources is one of the main reasons for Pakistan’s economic development.
Imran Khan will take loan after loan, ‘poor’ will take ‘bailout’ from Pakistan, China, Arabia
The Pakistani economic system is severely hampered. He was supported financially by close friends in China and Saudi Arabia, but angered by the boisterous attitude of Foreign Minister Shah Mahmood Qureshi, Saudi Arabia asked him for a loan of $ 3 billion. For this, too, Pakistan had to extend its hand to China. At the same time, Pakistan’s fate is to be decided at the FATF (Financial Action Task Force) meeting next month. Failure can lead to economic losses for Pakistan.