Lahore: The World Bank (WB) will provide a loan of USD 300 million for the Punjab Resource Improvement and Digital Effectiveness Programme (PRIDE), a news source reported on January 2. The international lending agency will provide a total of USD 14.43 billion by 2025 and USD 300 million will be the first instalment of the loan.
The loan will be directly provided to the Finance Department, P&D, Board of Revenue, Punjab Revenue Authority, PEPRA, Punjab Information Technology Board and Local Bodies Department and Excise and Taxation Department of Punjab government’s development projects in order to improve their efficacy. The programme aims to help the Punjab government to increase its revenue and to improve the reliability of resource allocation and access to digital services for people and firms in the province.
The World Bank had signed an agreement with Pakistan for the USD 300 million loan on December 16. Economic Affairs Division Secretary Noor Ahmed signed the agreement on behalf of the Government of Pakistan while the representative of Punjab government signed the operational agreement. World Bank Country Director Najy Benhassine signed the agreement on behalf of his organisation.
