Islamabad: The World Bank (WB) is currently mulling over the provision of additional financing totalling around USD 72 million to address funding shortfalls within the ambit of the “Sindh Barrages Improvement Project”, as reported in a news article on February 28.
According to the details in the official documents, the WB’s Board of Executive Directors is slated to deliberate on the matter of ‘Second Additional Financing (AF) for the Sindh Barrages Improvement Project’ in the coming month. The primary objective of this financing extension is to enhance the reliability and safety standards of the Guddu barrage, while simultaneously bolstering the operational and managerial capacities of the Sindh Irrigation Department in overseeing the barrage’s functions.
The “Sindh Barrages Improvement Project”, originally valued at USD 326.6 million, currently encounters a financing shortfall of approximately USD 72 million. To fulfil contractual obligations in the foreseeable future, the project will necessitate either counterpart funding from the government of Sindh or additional funding from the International Development Association (IDA). The WB records indicate that due to cumulative delays, the completion of works at Guddu and Sukkur barrages will exceed the current project closing date of June 30, 2024.
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