WB to finance Khyber Pakhtunkhwa project
ISLAMABAD: Federal Minister for Economic Affairs, Makhdum Khusro Bakhtyar Monday witnessed the signing ceremony of two agreements worth US$ 371.0 million with the World Bank to support projects in Agriculture and Social Sectors which was held in the Ministry of Economic Affairs.
Federal Secretary, Ministry of Economic Affairs Noor Ahmed, signed the Financing Agreements on behalf of the Government of Pakistan while representatives of Government of Punjab and Government of Khyber Pakhtunkhwa signed their respective project agreements online.
Country Director, World Bank, Patchamuthu Illangovan signed the projects agreements on behalf of the World Bank, said a press release isused by Ministry of Economic Affairs here.
Supporting Human Capital Accumulation in Punjab by Early Investment Project, $200.0 million: The objective of the project is to increase the utilization of quality health services, and economic and social inclusion programs among poor and vulnerable households in the select districts in Punjab Province.
The total approved cost of the project is US$ 330.0 million including World Bank financing of US$200.0 million.
Khyber Pakhtunkhwa Irrigated Agriculture Improvement Project - US$171.0 Million:
The objective of the project is to improve the performance of irrigated agriculture for farmers in Khyber Pakhtunkhwa Province.
The total cost of the project is US$219.30 million. The World Bank will finance US$171.0 million and the remaining cost will be borne by the Government of Khyber Pakhtunkhwa.
The development objective of the project will be achieved through multiple aspects of performance for improving the performance of on-farm water management by rehabilitating watercourses, introducing advanced irrigation technologies, and strengthening the capacity of communities, farmers and the On-farm Water Management Directorate.
And improving the performance of agriculture by raising productivity and prospects for value addition by strengthening farmers’ capacity and filling existing knowledge gaps regarding priority agriculture value chains.
The project will cover all districts and tehsils of Khyber Pakhtunkhwa, as well as the newly merged FATA areas. -APP