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The Financial Express

WB approved additional $245m for ongoing ongoing “Safety-net systems for the poorest project”

| Updated: December 20, 2017 21:10:18


WB approves more loans for social safety-net programmes

The World Bank (WB) has approved a loan of $245 million to make the country’s social safety-net programmes accountable and transparent.

The Board of Directors of WB approved the loan at its headquarters in Washington on Monday, according to a statement of the bank.

The amount approved on Monday will be an addition to the ongoing “Safety-net systems for the poorest project” will benefit nine million poor households across the country, added the statement.

Earlier, WB agreed upon $500 million loan for the project to modernise the government’s social safety-net programme for improving the services for the country’s poor and disables persons.

An ERD official said a loan will be signed with the WB to confirm the disbursement of the newly approved loan.

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