WB ratifies $300mln aid package for Pakistan



WASHINGTON: World Bank has given approval of USD300 million aid package for Pakistan among which $200 million are meant for Benazir Income Support Program (BISP) while remaining $100 million will be utilized on a project to promote Higher Education in Pakistan, Geo news reported.According to sources, World Bank was awaiting for deal with IMF for ratification of aforementioned aid package for Pakistan while the formal approval of the package will come forth during meeting of WB’s governing body.Pakistan hopes to receive aid package within two months, sources said.This $300 million aid package will be delivered to Pakistan on 5% interest rate which shall have to be returned within 35 years, sources added.

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