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Published 1 year ago

World bank delays approval of $1.1 billion loans for Pakistan

Summary by Ground News

The approval of the loans have been pending since June. Pakistan's next fiscal year starts in April. The South Asian nation is still reeling from devastating floods that have led to losses of more than $30 billion. Foreign exchange reserves held by the State Bank of Pakistan fell to $4.3 billion earlier this month.

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Big Blow to Pakistan as World Bank Delays Loans Worth $1.1 Billion Amid IMF Deadlock

The Shehbaz Sharif-led Pakistani government hoped to receive an approval for at least $450 million loan in January, which would have unlocked another $450 million from the Asian Infrastructure Investment Bank

1 year ago·India

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Channel News Asia

World bank delays approval of $1.1 billion loans for Pakistan

ISLAMABAD :The World Bank has delayed the approval of two loans for Pakistan worth $1.1 billion until the next fiscal year pending some steps on the country's energy debt and tariffs, a finance ministry source told Reuters on Wednesday.The approval of the loans have been pending since June, said the source, d

1 year ago·Singapore

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Business Recorder

World Bank delays approval of $1.1 billion loans for Pakistan: source

Major issue is circular debt management plan in the energy sector and tariff revision

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Major jolt for Pakistan as World Bank delays loans worth $1.1 billion until FY 2024

In a major blow to Pakistan, the World Bank has delayed the approval of two loans, worth $1.1 billion, until the next fiscal year starting 2024.

1 year ago·Mumbai, India

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The Express Tribune

World Bank delays loans worth $1.1b

Bank also opposed additional taxes on imports, postpones until FY 2024

1 year ago·Pakistan

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World Bank reveals reason to withhold Pakistan's $1.1 billion loan

07:36 PM, 18 Jan, 2023, Important News, Pakistan, Islamabad: Pakistan's $1.1 billion loan from World Bank

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