ISLAMABAD: The World Bank has deferred loans worth $1.1 billion and made the funding conditional on certain economic measures in the next financial year.
According to the details, bad news has come for the economy of Pakistan, the World Bank has postponed the project loan of 1.1 billion dollars.
The World Bank disagreed with the government’s economic strategy and stopped funds for the Rise Two and Peace Two projects.
The World Bank has made the funding conditional on certain economic measures in the next fiscal year and stipulated that Pakistan must reduce additional taxes on imports.
Pakistan’s economy has lost another 1.1 billion dollars this financial year due to the dollar, $450 million for the Economic Stabilization Program (RISE) and $600 million for the Affordable Energy Program.
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