Governments of all South Asian countries are always trying to satisfy World Bank so that they can get more loans on easy terms from this financial institution. It seems that Pakistan government has found the secret key of convincing World Bank. World Bank has now announced that in the next 4 years it is going to lend Pakistan $6.5 billion. In the last 4 years, Pakistan got only $2.73 billion from World Bank. World Bank has stated that a good portion of the money will be used to support rehabilitation and reconstruction efforts of Pakistani government for the October 2005 earthquake victims. The money will mainly be spent on infrastructure development, poverty alleviation and sustaining growth. There will be investments on energy and transport sectors. A lot of money will be used to implement projects related to irrigation, education, health, water supply and sanitation.
I am very happy that World Bank is giving such a huge sum of money to Pakistan. However, in every country of South Asia, people and even intellectuals often allege that institutions like World Bank gives loan with difficult terms that are against the interest of the poor people. So, I wish that Pakistan government can get the loan with terms that are not against the interest of the common people of the country.
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Tracked on: June 8, 2006 2:59 AM | Permalink to Trackback