` World Bank Pledges to Extend its Financial Package to Pakistan with $12 billion over 5 Years ‘

#AceFinanceNews- PAKISTAN – May 02 – With the Election winner still undecided in Pakistan today the The World Bank has decided to extend its financial assistance to Pakistan with a pledge of $12 billion for a five-year period, the country’s finance ministry said on Friday.

The reason given according to Pakistani officials, is that the loan will target “energy, economy, (fighting) extremism and education.

” Within the framework of a 2 percent interest rate loan program the first $1 billion will be transferred to the country, hit by an energy crisis and a shortfall in tax revenues, next week.

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