Pakistan gets only $345m of $1.61bn World Bank pledge

ISLAMABAD: Pakistan has received only $345 million of the $1.61 billion commitments made by two agencies of the World Bank for 2009.
 
Also, of the total commitment of $6.266 billion for 2004-09, an amount of $1.456 billion in net terms was transferred to Pakistan, according to the annual report of the World Bank for 2009.

The two agencies of the World Bank are the International Bank for Reconstruction and Development (IBRD) and the International Development Assistance (IDA).

The un-disbursed balance for 2009 is $1.83 billion. However, gross disbursements to Pakistan amounted to $940 million and after excluding repayments of $455 million, the net disbursement in 2009 stood at $485 million.

After deducting banks’ charges and interest payments of $140 million from the net disbursement of $485 million, net transfers to Pakistan in 2009 amounted to only $345 million.

The un-disbursed balance from 2004 to 2009 amounted to $1.83 billion. World Bank’s gross disbursements for the period amounted to $4.95 billion and after excluding repayments of $2.57 billion net disbursements stood at $2.38 billion.

After a deduction of $924 million in terms of interest payments and other charges, net transfers to Pakistan during 2004-2009 amounted to only $1.45 billion.

The report said that the World Bank had approved eight projects and programmes for Pakistan during 2009, including the IDA poverty reduction and economic support development policy credit of $500 million, which would support the government’s programme to regain economic stability and increase economic growth.

The other IDA programme is trade and transport facilitation specific investment credit of $25 million which will provide technical advisory services to help Pakistan implement the National Trade Corridor Improvement Programme.

The $3.3 billion IDA Punjab education sector specific investment credit is aimed at improving access and equity and quality and relevance of education in the province.

The $2.1 billion IDA Sindh education sector specific investment credit will support education reforms to increase school participation, reduce gender and rural-urban disparities and improve education sector governance.

The IDA third Pakistan poverty alleviation fund specific investment credit amounting to $250 million will empower poor people with increased incomes, improved productive capacity and better access to services to reduce poverty.

The World Bank approved $250 million for the Pakistan Poverty Alleviation Fund, now active in 119 of the 134 districts. Since 2000, the programme has facilitated the formation of 80,000 community organisations and provided 1.9 million micro-credit loans, 16,000 community infrastructure schemes, and training support for 232,000 people in enterprise development skills.

The $143.1 million IDA third partnership for polio eradication specific investment credit is aimed at eradicating polio by ensuring timely supply and effective use of oral polio vaccines for children.
The $60 million IDA social safety net technical assistance project technical assistance credit will enhance operation and management of a safety net system to cushion the effects of food and economic crises.

The $61.7 million IDA Sindh on-farm water management specific investment credit will improve efficiency, reliability and equity of irrigation water distribution at watercourse levels and enhance agricultural productivity.