Associated Press Service
ISLAMABAD:June 29, 2021 The Executive Directors of the World Bank Board approved 80 800 million to finance two programs in Pakistan.
According to a press release issued by the World Bank, these programs include Pakistan Program for Affordable and Clean Energy (PACE) and Second Securing Human Investment to Foster Transformation.
Naja Banhasin, World Bank Country Director for Pakistan, said the two programs could help reform reforms to facilitate sustainable investment and provide welfare benefits to those in need.
According to the statement, the 400 million clean energy project focuses on measures to improve the financial stability of the power sector and support the transition to low-carbon energy in the country.
The statement said, “PACE has taken necessary steps to bring about reforms to reduce the cost of power generation, focus on improving subsidies and tariffs for consumers and the power distribution system through private sector participation.” Priority has been given.